Jean Wister Acquires Condo On Mercer St In Soho For $9M
40 Mercer Street
$9,000,000
$3,325/SF
Building Size
2,706 SF
Asset Type
Condo
Closing
Apr 24, 2024
AI
Located at 40 Mercer Street in Soho, Manhattan, this condo spans 2,706 square feet. The property was sold for $9,000,000 at a price per square foot of $3,326. The transaction took place on 04/24/2024 with Jean Wister buying from William Lee.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $9,000,000
- Buyer: Jean Wister
- Seller: William Lee
- Brokers: Rachel Z. Bakhchi, Alexander Boriskin & Michael Lorber - Douglas Elliman
Rachel Z. Bakhchi, Alexander Boriskin, and Michael Lorber of Douglas Elliman represented the parties involved in this successful transaction that brought together Jean Wister as the buyer and William Lee as the seller at 40 Mercer Street. This deal signifies another significant real estate exchange in the vibrant Soho market.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93