Robert Lemle Acquires Mixed-Use Property On Upper East Side For $5.975M
SOLD
$5,975,000
+ 1
New York
See Similar DealsMixed-use60,000 SF
Sold 02/26/2020
SOLD
Robert Lemle Acquires Mixed-Use Property On Upper East Side For $5.975M
1388 2nd Ave, New York, NY 10021, USA
See Similar DealsMixed-use60,000 SF
Sold 02/26/2020
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$99
Total Square Footage:60,000 SF
Transaction Type:Sale
The mixed-use property located at 1388 2nd Avenue on the Upper East Side has been sold in a closed transaction for a price of $5,975,000. Spanning 6,000 square feet, the property boasts a price per square foot of $995. The asset consists of 11 units, with a price per unit of $543,181.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,975,000
- SF: 6,000
- PPSF: $995
- Units: 11
- PPU: $543,181
The buyer of the property was Robert Lemle, while the seller was Domax Realty, represented by Shari Field Taub. The deal was facilitated by brokers Peter Von Der Ahe, Joe Koicim, Danny Handweiler, and Jared Bernstein.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$318,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,227.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,324.55
Annual Debt Service$339,894.58
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