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229 13th Street

Jeffrey Bark Acquires Mixed-Use Property In Manhattan Beach For $3.15M
SOLDMixed-use

Jeffrey Bark Acquires Mixed-Use Property In Manhattan Beach For $3.15M

229 13th Street

$3,150,000

$2,390/SF

Building Size

1,318 SF

Asset Type

Mixed-use

Closing

Jun 24, 2022

AI

A mixed-use property located at 229 13th St. in Manhattan Beach has been sold in a recent transaction. The property spans 1,318 square feet and was sold for a price of $3,150,000, resulting in a price per square foot of $2,389.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $3,150,000
  • Square Footage: 1,318
  • Price per Square Foot: $2,389
  • Market: Manhattan Beach

The buyer of the property is Jeffrey Bark, while the seller is Mahmoud Saad. The transaction was facilitated by Ryan Sharpe of Urban Socal Group, who represented both parties in the deal. Urban Socal Group is affiliated with Kidder Mathews.

Players

Ryan Sharpe

Kidder Mathews

Broker

$82.5M

vol

20 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.04%

Cash-on-Cash

-1.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93