Mikal Bridges Buys Manhattan Co-Op Duplex For $5.99M
110 Franklin Street
$5,990,000
$1,145/SF
Building Size
5,228 SF
Asset Type
Co-Op
Closing
May 7, 2024
AI
An exquisite Co-Op in Manhattan located at 110 Franklin Street was recently sold for $5,990,000. This stunning property spans 5,228 square feet and boasts a price per square foot of $1,146. The buyer, Mikal Bridges from the Brooklyn Nets, acquired this luxurious Tribeca duplex featuring four bedrooms, 3½ baths, and 625 square feet of private outdoor space.
Summary of transaction details:
- Property Type: Co-Op
- Transaction Amount: $5,990,000
- Address: 110 Franklin Street
- Market: Manhattan
- Square Footage: 5,228
- Buyer: Mikal Bridges (Brooklyn Nets)
- Seller's Representative: Nicole Palermo & Ryan Serhant - Serhant
- Buyer's Representative: Aaron Mazor - Compass
Aaron Mazor from Compass skillfully represented Mikal Bridges in this prestigious real estate deal, securing the ideal property for the Brooklyn Nets star. Nicole Palermo and Ryan Serhant from Serhant facilitated the seamless transaction as the seller's representation, ensuring a successful sale of this remarkable Manhattan Co-Op.
Players
Brooklyn Co-Op Market Snapshot
Boundary boundary · Co-Op · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.65%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93