BiggerPockets

Description:

Office Building
150,000 SF
Price: $25,000,000
Property Description:
Thi is a REO.
This is a commercial property approved for residential conversion (condo or hotel).
Down Payment =$3.5M
14 floors
1st 2 floors occupied commercial space.
The rest is vacant
140K Square feet
Assessed Market Value 80M
Offer that would be acceptable by the bank is 25 to 29M
Our partner in this deal, working directly with the bank in order to find a buyer, is able to secure 70% of financing of the purchase price.

Location Description: Prime location near Madison Square Garden and Bryan Park. Five minute walk to Penn Station, Port Authority and Grand Central Station