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201 Mulberry Street

Brian Kwongyan Chung Of ONS Clothing Acquires Condo From Kamran Hakim For $7.8M
SOLDCondo

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

Christopher Owles

Broker

$9.7M

vol

11 deals

Broker
Sinvin Real Estate
Sinvin Real EstateBrokerage

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