GAIA Real Estate Acquires Mixed-Use Property In Lower East Side For $14M
SOLD
$14,000,000
+ 1
New York
See Similar DealsMixed-use15,429 SF
Sold 08/02/2022
SOLD
GAIA Real Estate Acquires Mixed-Use Property In Lower East Side For $14M
106 Norfolk Street
See Similar DealsMixed-use15,429 SF
Sold 08/02/2022
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$907
Total Square Footage:15,429 SF
Transaction Type:Sale
The mixed-use property located at 106 Norfolk St. in the Lower East Side has been sold in a recent transaction. The property, spanning 15,429 square feet, was acquired by GAIA Real Estate for a total sale price of $14,000,000, reflecting a price per square foot of $907.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $14,000,000
- Address: 106 Norfolk St.
- Market: Lower East Side
- Square Footage: 15,429
The deal was facilitated by the broker team consisting of Bob Knakal, Guthrie Garvin, Jonathan Hageman, and Jack Norton of JLL. They represented the buyer, GAIA Real Estate, during the transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$746,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71
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