Updated Oct 14, 2026
Jacob Chetrit Acquires Commercial Property On Lower East Side For $78M
275 Cherry Street, New York City, New York 10002, United States
$78,000,000
$118/SF
Building Size
657,592 SF
Asset Type
Commercial
Closing
Mar 30, 2022
About this deal
AI
The commercial property located at 275 Cherry Street in the Lower East Side, Manhattan was recently sold in a transaction that took place on March 31, 2022. The property has a lot size of 113,690 square feet, with dimensions of 450 feet by 330 feet. The zoning for this property is C6-4, making it suitable for commercial use.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $78,000,000
- Buyer: Jacob Chetrit
- Seller: David Thompson
- Building Square Footage (BSF): 654,592
- Price per Building Square Foot (PPBSF): $199
- Total Square Footage (SF): 657,592
- Price per Square Foot (PPSF): $118
- Floor Area Ratio (FAR): 5.78
Jacob Chetrit, represented by 's REP, acquired the property from David Thompson. This transaction showcases the strong demand for commercial properties in the Lower East Side market of Manhattan.
On the Map
$78,000,000
$118/SF
Commercial
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Players
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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93