Delshah Capital Acquires Mixed-Use Property In Lower East Side For $8.5M
119 Orchard Street, New York, NY 10002, USA
$8,500,000
$515/SF
Building Size
16,500 SF
Asset Type
Mixed-use
Closing
Apr 8, 2021
About this deal
AI
A mixed-use property located at 119 Orchard St. (also known as 120 Allen St.) in the Lower East Side was recently sold for $8,500,000. The property spans 16,500 square feet, resulting in a price per square foot of $515. The sale took place on April 9, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,500,000
- Address: 119 Orchard St. (aka 120 Allen St.)
- Market: Lower East Side
The buyer of the property was Delshah Capital, with Michael Shah representing the company. The seller was Shimon Avadi. The sale was facilitated by brokers Michael F. DeCheser and Bryan F. Hurley from Team Decheser at CushWake.
On the Map
$8,500,000
$515/SF
Mixed-use
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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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93