SOLD
Christopher Okada And Francis Leung Acquire Flatiron Office Building For $16.25M
109-111 West 24th Street
Office
44,500 SF
44,500 SF
Sold 1 year ago
Summary
Sale
NEW YORK
Office
44,500 sqft
Located in the Flatiron district, the office property at 109-111 West 24th Street was recently sold in a transaction. The asset spans a total area of 44,500 square feet, with a price per square foot of $365. The sale price for the property was $16,250,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,250,000
- Address: 109-111 West 24th Street
- Market: Flatiron
The buyer in this transaction is Christopher Okada and Francis Leung, while Montauk Rug & Carpet acted as the seller. Representing the buyer's side were Brock Emmetsberger and Cameron Stafford from 6RealEstate Advisors. On the seller's side, Bob Knakal and Jonathan Hageman from LL served as the representatives.
It is worth noting that Christopher Okada shared his perspective on the purchase. He mentioned experiencing uncertainty during the early days of the pandemic, but his confidence in New York City's resilience led him to make this investment. Okada also referenced his real estate documentary, "THE RESILIENT," as a reminder of NYC's ability to bounce back. With the acquisition of 111 West 24th Street, Okada aims to contribute to the city's post-pandemic office development projects.
Players
All
7
Agents
4
Agencies
3
Details
SOLD
IMAGE: Cameron Stafford, Brock Emmetsberger, Christopher Okada, Francis Leung, Bob Knakal & Jonathan Hageman
DATE: 10/28/2021
ADDRESS: 109-111 West 24th Street
MARKET: Flatiron
ASSET TYPE: Office
BUYER: Christopher Okada (@ChrisOkada) & Francis Leung (@NYCFrancis)
SELLER: Montauk Rug & Carpet
BUYER’S REP: Brock Emmetsberger (@NYCBrock) & Cameron Stafford - @B6RealEstate Advisors
SELLER’S REP: Bob Knakal (@BobKnakalNYC) & Jonathan Hageman - @JLL
SALE PRICE: $16,250,000
SF: 44,500 ~ PPSF: $365
NOTE FROM @ChrisOkada: Follow @ChrisOkada...We just hired a new associate who was supposed to begin last year, but due to the pandemic & timing, we began this week. He told me that last year early into the pandemic, I wasn't sure if @OkadaCo was going to survive. First, I can't believe I would event speak these words, let alone to a new hire LOL... but secondly & more importantly, I was scared. People in my circle know that I had a full blown panic attack because NYC was dead. Nobody is going to shop in stores. Companies are working from home indefinitely. Everything I had worked hard for every single day over the last 18 years (then) was in my mind gone in 60 days. Just like that. BUT HERE WE ARE... I produced a real estate documentary called THE RESILIENT (LINK IN MY BIO) & had I not been the actual producer of that I would have forgotten that NYC ALWAYS COMES BACK. This purchase is a testament of that... This recovery should be fun, & I'm betting big that it will be. Follow our journey as we turn 111 West 24th Street into one of Chelsea / Flatiron's first Post-Pandemic Office Development projects.View on map
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Address109-111 West 24th Street
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