Highpoint Property Group Sells Mixed-Use Asset In East Village For $13.25M
SOLD
$13,250,000
New York
See Similar DealsMixed-use8,078 SF
Sold 03/22/2021
SOLD
Highpoint Property Group Sells Mixed-Use Asset In East Village For $13.25M
100 2nd Avenue, Manhattan, New York, NY, USA
See Similar DealsMixed-use8,078 SF
Sold 03/22/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,640
Total Square Footage:8,078 SF
Transaction Type:Sale
The mixed-use property located at 100 2nd Avenue in East Village has been sold for $13,250,000. Spanning 8,078 square feet, the property was sold at an average price of $1,640 per square foot.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $13,250,000
- Date: 03/22/2021
- Market: East Village
- Seller: Drew Popkin - @HighpointPropertyGroup
- Buyer's Representative: Kelly Waters - Compass
- Seller's Representative: Brandon Polakoff - Avison Young
- Square Footage: 8,078
- Price per square foot: $1,640
The sale of this property was facilitated by Drew Popkin of Highpoint Property Group, representing the seller, and Kelly Waters of Compass, representing the buyer. Brandon Polakoff, from Avison Young, acted as the seller's representative in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,074.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$62,811.76
Annual Debt Service$753,741.12
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