Land Finance Corporation Acquires Mixed-Use Property In SoHo For $21.75M
1 Crosby Street, Manhattan, New York, NY, USA
$21,750,000
$1,977/SF
Building Size
11,000 SF
Asset Type
Mixed-use
Closing
Sep 30, 2021
AI
The mixed-use property located at 1 Crosby Street (28 Howard Street) in the SoHo market has been sold for a total price of $21,750,000. The property spans across 11,000 square feet, with a price per square foot of $1,977. The sale was finalized on September 30, 2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $21,750,000
- Street Address: 1 Crosby Street (28 Howard Street)
- Market: SoHo
The buyer of the property was Land Finance Corporation, while the seller was Harry Spitzer Inc., represented by Gilbert Spitzer. The buyer was represented by Peter Weisman from invinRealEstate, and the seller was represented by Marc Simon from Isaacs & Co.
It is noteworthy to mention Peter Weisman's involvement as the buyer's representative for invinRealEstate and Marc Simon's representation for Isaacs & Co. in this transaction.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93