Updated Oct 28, 2024
WC & J Inc. Acquires Mixed-Use Property In Lower East Side For $5.7M
187 East Broadway, New York City, New York 10002, United States
$5,700,000
$1,001/SF
Building Size
5,692 SF
Asset Type
Commercial
Closing
May 5, 2022
About this deal
AI
The mixed-use property located at 187 E. Broadway in the Lower East Side was recently sold for a total price of $5,700,000. The property spans across 5,700 square feet, resulting in a price per square foot of $1,000. WC & J Inc., represented by Leo Hong, acted as the seller in this transaction.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $5,700,000
- Address: 187 E. Broadway
- Market: Lower East Side
- Square Footage: 5,700
- Price Per Square Foot: $1,000
The deal was facilitated by brokers Dave Krause and Paolo Italia from Poseidon Hospitality Group, who represented the buyer. The involvement of these key individuals and companies adds a layer of expertise and insight to the transaction.
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93