Jean Wister Acquires Condo On Mercer St In Soho For $9M
SOLD
$9,000,000
New York
See Similar DealsCondo2,706 SF
Sold 04/24/2024
SOLD
Jean Wister Acquires Condo On Mercer St In Soho For $9M
40 Mercer Street
See Similar DealsCondo2,706 SF
Sold 04/24/2024
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$3,325
Total Square Footage:2,706 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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