Aiden Brooks Acquires Retail Building And 2 Retail Condominiums In Manhattan For $82.5M
106 Prince St, New York, NY 10012, USA
Building Size
21,600 SF
Asset Type
—
Closing
Nov 28, 2020
About this deal
AI
Daniel Kaplan and Aidan Brooks have acquired three properties in Manhattan for a total of $82,500,000. The properties include a retail building located at 106 Prince Street, as well as two retail condominiums at 102 Prince Street and 114-122 Greene Street. The total square footage of the properties is 21,600, with an average price per square foot of $3,819.
Summary of transation details
- Property Type: Retail Building and 2 Retail Condominiums
- Transaction Amount: $82,500,000
- Address: 106 Prince Street, 102 Prince Street, 114-122 Greene Street
- City: New York
- Market: Manhattan
- Square Footage: 21,600
- Price per Square Foot: $3,819
The seller, Donald Zilli & Family, along with two other Italian families, entered into a joint venture to sell the properties. The buyer, Aidan Brooks, facilitated the transaction with the assistance of CBRE Investment.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93