Tenny Lam Acquires Office & Retail Property In Chinatown For $5.15M
121 Bowery
$5,150,000
$754/SF
Building Size
6,827 SF
Asset Type
—
Closing
Sep 9, 2022
About this deal
AI
The property asset involved in this transaction is located at 121 Bowery in Chinatown, encompassing both office and retail spaces. It was sold for a total of $5,150,000, with a square footage of 6,827, translating to a price per square foot of $754.
Summary of transaction details:
- Property Type: Office & Retail
- Transaction Amount: $5,150,000
- Address: 121 Bowery
- Market: Chinatown
- Square Footage: 6,827
- Price Per Square Foot: $754
- Buyer: Tenny Lam
- Seller: Liu Estate
- Broker Representatives: Adam Lobel, Zachary Ziskin, Justin Zeitchik & Eli Zempsky - Investment Property Realty Group (IPRG)
The deal was facilitated by a team of brokers from Investment Property Realty Group, comprising Adam Lobel, Zachary Ziskin, Justin Zeitchik, and Eli Zempsky, who represented the buyer, Tenny Lam, and the seller, Liu Estate.
On the Map
$5,150,000
$754/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.08%
Cash-on-Cash
-0.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93