Ian Cheng Acquires Mixed-Use Property At 101 West 27th Street For $4.5M
101 West 27th Street
$4,500,000
$733/SF
Building Size
6,136 SF
Asset Type
Mixed-use
Closing
Apr 7, 2023
AI
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
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93