Richard Herman Acquires Industrial Property On Cooper Street In Inwood, Manhattan For $15.15M
97 Cooper Street, Manhattan, New York, NY, USA
$15,150,000
$190/SF
Building Size
79,400 SF
Asset Type
Industrial
Closing
May 19, 2021
AI
The industrial property located at 97 Cooper Street in Inwood, Manhattan has been sold in a transaction that took place on May 20, 2021. The property, with a zoning classification of R7A and C2-4, offers a total buildable area of 79,400 square feet.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $15,150,000
- Address: 97 Cooper Street, Inwood, Manhattan
- Market: Inwood, Manhattan
- Buyer: Richard Herman
- Seller: Barry Aronowsky
- Price per Building Square Foot (PPBSF): $190
- Total Square Footage: 79,400
- Price per Square Foot (PPSF): $190
- Floor Area Ratio (FAR): 4.00
- Tax Class: 2
- Lot Size: 19,850 square feet
- Permits: Alteration type 2 - issued on August 17, 2017
- Lot Dimensions: 125 ft x 153.58 ft
Richard Herman represented the buyer in this transaction, while the seller, Barry Aronowsky, was represented by their own representative from their respective agencies.
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.05%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93