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Lockhill Properties Acquires Mixed-Use Property In East Village For $5.2M

Property Image
SOLD
$5,200,000

New York

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Mixed-use5,535 SF
Sold 10/06/2022
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Property Image
SOLD

Lockhill Properties Acquires Mixed-Use Property In East Village For $5.2M

108 1st Avenue

See Similar Deals
Mixed-use5,535 SF
Sold 10/06/2022
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$939
Total Square Footage:5,535 SF
Transaction Type:Sale

The recently closed transaction in the East Village involved the sale of a mixed-use property located at 108 1st Avenue. The property spans a total area of 5,535 square feet and was sold for a price of $5,200,000, resulting in a price per square foot of $939. The deal was facilitated by Brandon Polakoff from Avison Young, who represented the buyer, Lockhill Properties - Parke Leatherman.

Summary of transaction details:

  • Property Type: Mixed-Use
  • Transaction Amount: $5,200,000
  • Address: 108 1st Avenue, East Village
  • Square Footage: 5,535
  • Price per Square Foot: $939
  • Buyer: Lockhill Properties - Parke Leatherman
  • Broker: Brandon Polakoff - Avison Young

This successful transaction was facilitated by Brandon Polakoff from Avison Young. The deal demonstrates the expertise and professionalism of Lockhill Properties - Parke Leatherman and their commitment to acquiring properties in the East Village market.

Players

Brandon Polakoff
123 deals$1.8B volume
BROKER

BUYER

Details

SOLD
IMAGE: Brandon Polakoff & Parke Leatherman DATE: 10/06/2022 ADDRESS: 108 1st Avenue MARKET: East Village ASSET TYPE: Mixed-Use BUYER: Lockhill Properties - Parke Leatherman BROKER: Brandon Polakoff (@BFPolly) - Avison Young (@Avison_Young_Global) SALE PRICE: $5,200,000 SF: 5,535 ~ PPSF: $939

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Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
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