Updated Dec 21, 2023
Ari Zagdanshi Acquires Commercial Property In East Village, Manhattan For $10M
58 3rd Avenue, New York City, New York 10003, United States
$10,000,000
$1,586/SF
Building Size
6,305 SF
Asset Type
Commercial
Closing
Jan 25, 2022
About this deal
AI
The commercial property located at 58 3 Avenue in East Village, Manhattan, was recently sold in a transaction that took place on January 26, 2022. The property has a total building square footage (BSF) of 11,131 and a price per BSF (PPBSF) of $898. Additionally, it has a total lot square footage (SF) of 6,305 and a price per SF (PPSF) of $1,586. The property's floor area ratio (FAR) is 3.41, and it falls under tax class 2A. The lot size is 1,849, and permits for a sign were obtained on November 25, 2015. The lot has dimensions of 23.75 ft x 77.83 ft.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $10,000,000
- Buyer: Ari Zagdanshi
- Seller: George Nanas
- Market: East Village, Manhattan
- Zoning: C6-2A
Ari Zagdanshi was the buyer in this transaction, while George Nanas served as the seller. The property was sold for a price of $10,000,000.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93