Bestreich Realty Group Represents Matthew Perna In $4.75M Sale Of Mixed-Use Property In NoMad, Manhattan
116-118 East 31st Street, Manhattan, New York, NY, USA
$4,750,000
$573/SF
Building Size
8,290 SF
Asset Type
Mixed-use
Closing
Apr 6, 2021
About this deal
AI
The mixed-use property located at 116-118 E. 31st Street in NoMad, Manhattan has been sold for a total price of $4,750,000. The property consists of 13 units with a sale price per unit of $365,384. The building has a total square footage of 8,290, resulting in a price per square foot of $572. The sale of the property was facilitated by Zachary Ziskin, Adam Lobel, and Justin Zeitchik of Bestreich Realty Group acting as brokers for the seller, Matthew Perna.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,750,000
- Address: 116-118 E. 31st Street, NoMad, Manhattan
- Market: NoMad, Manhattan
- Building Square Footage: 8,290
- Price per Square Foot: $572
- Number of Units: 13
- Sale Price per Unit: $365,384
The deal was successfully negotiated by Zachary Ziskin, Adam Lobel, and Justin Zeitchik of Bestreich Realty Group. It is worth mentioning that the property is 85% free market and has 7,606 square feet of additional air rights. For more information or if you are interested in selling a similar building, you can contact Bestreich Realty Group at 718-360-8801 or via email at [email protected].
Players
New York 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
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93