Wisdom Global Realty pays $5.4M to Jin Kim for office building in Flatiron

Wisdom Global Realty New York LLC paid $5.4 million to Jin L. Kim through the entity J & K East Corp. for the office building (O5) at 19 West 26th Street in Flatiron, Manhattan.
The deal closed on August 25, 2021 and was recorded on September 2, 2021.
The property has 10,016 square feet of built space and 14,708 square feet of additional air rights for a total buildable of 24,720 square feet according to PincusCo analysis of city data. The sale price per built square foot is $539 and the price per buildable square foot is $218 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on August 25, 2021, for $5.4 million.
The signatory for Jin L. Kim was Jin L. Kim.

Within a 400-foot radius of 19 West 26th Street, PincusCo identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, one was in new building development. It was a new building permit issued on July 14, 2021 for a 24,325-square-foot R-1 building with 52 residential units at 1162 Broadway.
Of those seven items, one was for major renovation including a certificate of occupancy change. It was a permit issued on October 16, 2020 for the $353,000 renovation of 43,539-square-foot hotel R-1 building at 18 West 25th Street.
Of those seven items, two were sales above $5 million totaling $49.1 million. The most recent of the two was Gramercy Hudson LLC which bought one condo unit in the 4,155-square-foot, 52-unit mixed-use building (RM) on 212 5th Avenue for $23.0 million from Madison Flatiron on August 6, 2021.
Of those seven items, three were loans above $5 million totaling $21.8 million. The most recent of the three was PTS America which borrowed $9.2 million from Cathay Bank secured by the 13,145-square-foot, six-unit office building (O5) on 222 5th Avenue on June 4, 2020.

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