MJ Group Holdings LLC And Lee Pan Realty Corp. Acquire Mixed-Use Property In Chinatown/Little Italy For $22.5M
116 Mott St, New York, NY 10013, USA
$11,300,000
$533/SF
Building Size
21,196 SF
Asset Type
Mixed-use
Closing
Sep 13, 2018
About this deal
AI
Located at 116 Mott Street in the Chinatown/Little Italy neighborhood of New York City, this property is a mixed-use building. The transaction was closed on September 14, 2018. The property spans 21,196 square feet and was sold for a purchase price of $22,500,000, resulting in a price per square foot of $1,061.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $22,500,000
- Address: 116 Mott Street
- Market: Chinatown/Little Italy, NYC
The buyer of the property is MJ Group Holdings LLC and Lee Pan Realty Corp., represented by Chun Er Pan. On the other hand, the seller is 116 Mott St. Realty Corp., represented by Johnny Casalinuovo. The loan for this transaction, amounting to $11,300,000, was provided by Signature Bank. The mortgage broker for the deal was a vice president from Meridian Capital Group.
On the Map
$11,300,000
$533/SF
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.40%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93