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Mikal Bridges Buys Manhattan Co-Op Duplex For $5.99M

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SOLD
$5,990,000

New York

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Co-Op5,228 SF
Sold 05/07/2024
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Property Image
SOLD

Mikal Bridges Buys Manhattan Co-Op Duplex For $5.99M

110 Franklin Street

See Similar Deals
Co-Op5,228 SF
Sold 05/07/2024
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Summary

NEW YORK
Asset Type:Co-Op
Price Per Square Foot:$1,145
Total Square Footage:5,228 SF
Transaction Type:Sale

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

Ryan Serhant
43 deals$955.1M volume
BROKER

Aaron Mazor
Compass
2 deals$9.5M volume(917) 696-8772
BROKER

Nicole Palermo
Serhant
2 deals$19M volume(917) 226-2704
BROKER

Details

SOLD
IMAGE: Aaron Mazor, Mikal Bridges, Ryan Serhant & Nicole Palermo DATE: 05/07/2024 ADDRESS: 110 Franklin Street MARKET: Manhattan ASSET TYPE: Co-Op BUYER: Mikal Bridges (Brooklyn Nets) BUYER'S REP: Aaron Mazor (@aaron.mazor) - Compass (@Compass) SELLER'S REP: Nicole Palermo (@_NicolePalermo) & Ryan Serhant (@RyanSerhant) - Serhant (@Serhant) SALE PRICE: $5,990,000 SF: 5,228 ~ PPSF: $1,146 NOTE: Brooklyn Nets star Mikal Bridges scores a Manhattan residence, splurging $5.99 million on a Tribeca duplex with four bedrooms, 3½ baths, and 625 square feet of private outdoor space.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$319,466.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,281.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,395.66
Annual Debt Service$340,747.87