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72 Reade St #2, New York, N...

Ali Vasegh Acquires Residential Condo At 72 Reade Street, Tribeca For $5.5M
SOLD

Ali Vasegh Acquires Residential Condo At 72 Reade Street, Tribeca For $5.5M

72 Reade St #2, New York, NY 10007, USA

$5,525,000

$1,398/SF

Building Size

3,950 SF

Asset Type

Closing

Feb 27, 2020

AI

A residential condo located at 72 Reade Street in Tribeca recently sold in a closed transaction. The property spans 3,950 square feet and was sold for a sale price of $5,525,000. The asking price for the condo was $5,750,000, resulting in a price per square foot of $1,398.

Summary of transaction details

  • Property Type: Residential Condo
  • Asking Price: $5,750,000
  • Sale Price: $5,525,000
  • Square Footage: 3,950
  • Price per Square Foot: $1,398
  • Address: 72 Reade Street, Tribeca

The seller of the condo was Jeffrey Siegel, while the buyer was Ali Vasegh. The transaction was facilitated by brokers Nathan Malkoukian, Yitzchak Khaimov, and Ryan Serhant from NestSeekers.

Players

Ryan Serhant

Serhant

Broker

$1.1B

vol

44 deals

Broker
Jeffrey Siegel

Jeffrey Siegel

Seller

$26.1M

vol

5 deals

Seller

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

2.87%

Cash-on-Cash

-0.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93