SOLD
Thomas DiPaola Acquires Three Retail Condos In Manhattan From Sorgente Group For $13.4M
66 White St, New York, NY 10013, USA
Building Size
32,602 SF
Asset Type
—
Closing
Apr 17, 2018
AI
Three retail condos located at 66 White Street in New York City's Manhattan market have been sold for a total of $13,400,000. The seller, Sorgente Group of America represented by Veronica Mainetti, completed the transaction with buyer Thomas DiPaola.
Summary of transaction details:
- Property Type: Three retail condos
- Transaction Amount: $13,400,000
- Seller: Sorgente Group of America represented by Veronica Mainetti
- Buyer: Thomas DiPaola
Notably, the Sorgente Group also owns the iconic Flatiron Building.
Players
Sorgente GroupSeller
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