Brian Kwongyan Chung Of ONS Clothing Acquires Condo From Kamran Hakim For $7.8M
201 Mulberry Street
$7,800,000
$1,725/SF
Building Size
4,521 SF
Asset Type
Condo
Closing
Nov 19, 2024
AI
The property asset involved in this transaction is a retail condo located at 201 Mulberry Street in Nolita, Manhattan. The property spans 4,521 square feet and was sold for $7,800,000, resulting in a price per square foot of $1,725. The acquisition price is notably below the previous purchase price of $8.4 million recorded in 2014.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $7,800,000
- Square Footage: 4,521
- Price per Square Foot: $1,725
- Buyer: Brian Kwongyan Chung - ONS Clothing
- Seller: Kamran Hakim - Hakim Organization
- Buyer’s Representative: Peter Weisman - Weisman NYC
- Seller’s Representative: Christopher Owles - Sinvin
This transaction involved key individuals and organizations, including buyer Brian Kwongyan Chung representing ONS Clothing and seller Kamran Hakim from the Hakim Organization. The buyer's interests were represented by Peter Weisman of Weisman NYC, while the seller was represented by Christopher Owles of Sinvin.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93