Parag Sawhney & Raymond Chera Acquire Mixed-Use Property In East Village For $3.05M
SOLD
$3,050,000
+ 2
New York
See Similar DealsMixed-use3,680 SF
Sold 11/13/2020
SOLD
Parag Sawhney & Raymond Chera Acquire Mixed-Use Property In East Village For $3.05M
123 1st Avenue, New York, NY 10003
See Similar DealsMixed-use3,680 SF
Sold 11/13/2020
+ 2
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$828
Total Square Footage:3,680 SF
Transaction Type:Sale
The mixed-use property located at 123 1st Avenue in the East Village has been sold for a price of $3,050,000. The transaction took place on November 13, 2020. The property spans a total square footage of 3,680, with a buildable square footage of 4,000. The price per square footage is $828, and the price per buildable square footage is $762. The property is classified under tax class 2A.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,050,000
- Address: 123 1st Avenue
- Market: East Village
- Zoning: R7A, C1-5
The buyers of the property are Parag Sawhney and Raymond Chera, while Krystna Miguel is the seller. The deal was facilitated by the brokers Justin Zeitchik, Zachary Ziskin, and Adam Lobel from Bestreich Realty Group (BRG).
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$162,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,836.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,458.56
Annual Debt Service$173,502.67
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