John Quinlan Acquires Office Building In Houston For $20.6M
1801 Smith Street, Houston, TX 77002, USA
$20,600,000
$45/SF
Building Size
458,000 SF
Asset Type
Office
Closing
Apr 2, 2021
About this deal
AI
The office property located at 1801 Smith Street in Houston has been sold in a recent transaction. The property spans a total area of 458,000 square feet, resulting in a price per square foot of $45. The sale took place on April 3, 2021, and the total transaction value amounted to $20,600,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $20,600,000
- Address: 1801 Smith Street, Houston
- Market: Houston
The seller of the property was DRA Advisors, represented by David Luski and Jean Marie Apruzzese. John Quinlan acted as the buyer in this transaction.
Players
Houston Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.77%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93