K Property Group Acquires Retail Condo In TriBeCa From Cape Advisors For $12M
SOLD
$12,000,000
+ 1
New York
See Similar Deals1,650 SF
Sold 01/06/2021
SOLD
K Property Group Acquires Retail Condo In TriBeCa From Cape Advisors For $12M
30 Warren Street, Manhattan, New York, NY, USA
See Similar Deals1,650 SF
Sold 01/06/2021
+ 1
Summary
NEW YORK
Price Per Square Foot:$7,272
Total Square Footage:1,650 SF
Transaction Type:Sale
30 Warren Street in TriBeCa is the location of a recently sold retail condo. The property, measuring 3,086 square feet, was purchased by K Property Group from Cape Advisors. The deal was facilitated by Eric Anton and Nelson Lee of The Anton Group NYC and Marcus & Millichap NY.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $12,000,000
- Address: 30 Warren Street
- Market: TriBeCa
In addition to the purchase, the tenant Spectrum has agreed to a 10-year lease term. The price per square foot for the property was $3,888.
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BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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