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Ian Cheng Acquires Mixed-Use Property At 101 West 27th Street For $4.5M

Property Image
SOLD
$4,500,000
Ronald (Ron) Cohen
Justin Zeitchik
+ 1

New York

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Mixed-use6,136 SF
Sold 04/07/2023
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Property Image
SOLD

Ian Cheng Acquires Mixed-Use Property At 101 West 27th Street For $4.5M

101 West 27th Street

See Similar Deals
Mixed-use6,136 SF
Sold 04/07/2023
Ronald (Ron) Cohen
Justin Zeitchik
+ 1
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$733
Total Square Footage:6,136 SF
Transaction Type:Sale

The mixed-use property at 101 West 27th Street in New York City has been sold for a total price of $4,500,000. The asset spans across 6,136 square feet, resulting in a price per square foot of $733. The building's total square footage is 16,680, leading to a price per total square footage of $270.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $4,500,000
  • Square Feet: 6,136
  • Price per Square Foot: $733
  • Total Square Footage: 16,680
  • Price per Total Square Footage: $270
  • Address: 101 West 27th Street, New York City

The buyer of the property was Ian Cheng, while the seller was The Ma Family. Justin Zeitchik and Zachary Ziskin from Investment Property Realty Group (IPRG) acted as the buyer's representatives in this transaction. On the other hand, Ronald Cohen and Gabriella Schwalbe from Besen Partners represented the seller.

Overall, this sale transaction involved a mixed-use property located at 101 West 27th Street in New York City. The property was sold for $4,500,000, with a price per square foot of $733 and a total square footage of 16,680. The buyer, Ian Cheng, was represented by Justin Zeitchik and Zachary Ziskin from Investment Property Realty Group (IPRG), while the seller, The Ma Family, was represented by Ronald Cohen and Gabriella Schwalbe from Besen Partners.

Players

Justin Zeitchik
50 deals$254.9M volume(718) 360-8827
BROKER

Zachary Ziskin
Investment Property Realty Group (IPRG)
38 deals$202.7M volume(646) 872-0121
BROKER

Ronald (Ron) Cohen
Besen Partners
25 deals$95.3M volume
BROKER

Gabriella Schwalbe
Besen Partners
2 deals$5.8M volume(646) 424-5061
BROKER

Details

SOLD
IMAGE: Ronald Cohen, Gabriella Schwalbe, Justin Zeitchik & Zachary Ziskin DATE: 04/07/2023 ADDRESS: 101 West 27th Street MARKET: New York City ASSET TYPE: Mixed-Use BUYER: Ian Cheng SELLER: The Ma Family BUYER'S REP: Justin Zeitchik (@Jigga1216) & Zachary Ziskin (@ZacharyZiskin_IPRG) - Investment Property Realty Group (IPRG) (@IPRG_NY) SELLER'S REP: Ronald Cohen (@NYC_Building_Showcase) & Gabriella Schwalbe (@GabriellaSchwalbeCRE) - Besen Partners (@BesenPartners) SALE PRICE: $4,500,000 SF: 6,136 ~ PPSF: $733 BSF: 16,680 ~ PPBSF: $270

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55