Steven Bai Acquires Development Site In Chinatown For $3.8M
SOLD
$3,800,000
New York
See Similar DealsDevelopment Site13,400 SF
Sold 12/15/2021
SOLD
Steven Bai Acquires Development Site In Chinatown For $3.8M
25 Allen Street, New York City, New York 10002, United States
See Similar DealsDevelopment Site13,400 SF
Sold 12/15/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$283
Total Square Footage:13,400 SF
Transaction Type:Sale
A development site located at 25 Allen Street in Chinatown has been sold for $3,800,000. The property spans 13,400 square feet, resulting in a price per buildable square foot (PPBSF) of $283. The transaction took place on December 15, 2021.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $3,800,000
- BSF: 13,400
- PPBSF: $283
- Address: 25 Allen Street
- Market: Chinatown
The buyer of the property is Steven Bai, while the seller is Miriam Sand. The seller was represented by Stephen Dadourian and Jonathan Buerger from B6 Real Estate Advisors.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$202,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,500.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,013.94
Annual Debt Service$216,167.26
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