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116-118 East 31st Street, M...

Updated Dec 18, 2023

Bestreich Realty Group Represents Matthew Perna In $4.75M Sale Of Mixed-Use Property In NoMad, Manhattan
SOLDMixed-use

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

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$628.5M

vol

147 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $573 per square foot on a published $4.8M for 8,290 square feet (2021).

Visit Zachary Ziskin to view all their deals.

Browse New York mixed use sales on Traded.

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

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