$5.075M Sale Of 27 Allen Street Development Site In LES/Chinatown
SOLD
$5,075,000
National
See Similar DealsSold 08/29/2018
SOLD
$5.075M Sale Of 27 Allen Street Development Site In LES/Chinatown
Sold 08/29/2018
Summary
Transaction Type:Sale
Located at 27 Allen Street in the LES/Chinatown market, this development site was recently sold in a closed transaction. The property spans 3,785 square feet and has a gross square footage of 7,594 for residential use. The building's total buildable square footage is 13,246, with a price per buildable square foot of $383. The property was listed for $6,000,000 and was sold for $5,075,000.
Summary of transaction details:
- Property Type: Development Site
- Asking Price: $6,000,000
- Sale Price: $5,075,000
- SF: 3,785
- GSF: 7,594 Residential
- BSF: 13,246
- PPBSF: $383
The seller of this property was Jacob Sherman. The buyer's information is not available. The deal was facilitated by brokers Michael DeCheser, Darragh Clarke, and Mei Ling Wong.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$270,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,030.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,058.09
Annual Debt Service$288,697.07
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