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214-216 W 15th St, New York...

Holliswood Development Acquires Mixed Use Property On West 15th Street In Manhattan For $21M
FINANCEDMixed-use

Holliswood Development Acquires Mixed Use Property On West 15th Street In Manhattan For $21M

214-216 W 15th St, New York, NY 10011, USA

Building Size

20,000 SF

Asset Type

Mixed-use

Closing

Apr 17, 2023

AI

A mixed-use property located at 214-216 West 15th Street in Manhattan has been sold for $21,000,000. The property spans 20,000 square feet and was developed by Holliswood Development. The transaction took place on June 15.

Summary of transaction details

  • Property Type: Mixed Use
  • Transaction Amount: $21,000,000
  • Building Square Footage: 20,000
  • Address: 214-216 West 15th Street, Manhattan, New York
  • Market: Manhattan

The deal was facilitated by the brokers, Raymond Salameh, Ari Hirt, Steven Buchwald, and Lexington Henn of Mission.Capital. They represented the parties involved in the transaction, providing expert guidance throughout the process. Arden Group served as the lender for the deal.

Players

Ari Hirt

Walker & Dunlop

Broker

$3.1B

vol

28 deals

Broker
Arden Group
Arden GroupLender

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93