Project Renewal Acquires Commercial Condo At 200 Varick Street In Hudson Square, Manhattan For $12.5M
200 Varick St, New York, NY 10014, USA
$12,471,159
Building Size
—
Asset Type
Condo
Closing
May 1, 2023
About this deal
AI
A commercial condominium unit located at 200 Varick Street in Hudson Square, Manhattan was involved in a closed transaction. The unit was purchased for $12,471,159 by Project Renewal from GFP Real Estate on May 1, 2023.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $12,471,159
- Buyer: Project Renewal
- Seller: GFP Real Estate
- Buyer's Representative: Eric Rosenbaum
- Seller's Representative: Brian Steinwurtzel
- Date of Sale: 05/01/2023
- Address: 200 Varick Street
- Market: Hudson Square, Manhattan
Project Renewal is a nonprofit organization focused on assisting individuals impacted by homelessness and substance abuse. GFP Real Estate represented by Brian Steinwurtzel is a recognized entity in the real estate market, completing this transaction with Project Renewal's representative Eric Rosenbaum.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93