East Coast Management Acquires Mixed-Use Property In Washington Heights For $15.2M From Seller Bruce Haley
1341 St Nicholas Ave, New York, NY 10033, USA
$15,210,000
$33/SF
Building Size
448,140 SF
Asset Type
Mixed-use
Closing
May 29, 2019
About this deal
AI
A mixed-use property located at 1341 St. Nicholas Avenue in Washington Heights has been sold in a closed transaction. The property spans 44,814 square feet and was listed with an asking price of $17,250,000. The sale price was negotiated at $15,210,000, representing an 11% decrease from the initial asking price. The price per square foot for this transaction was $339.
Summary of transaction details
- Property Type: Mixed-use
- Asking Price: $17,250,000
- Sale Price: $15,210,000 (11% ⬇️)
- Square Footage: 44,814
- Price per Square Foot: $339
The seller of the property was Bruce Haley, while the buyer was David Eshaghpour of East Coast Management LLC. The transaction was facilitated by brokers Robert M. Shapiro, Ian Brooks, and Eric Roth from CushWake.
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
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93