Shaun Ajodan Acquires Mixed-Use Asset In Kips Bay For $11.5M
SOLD
$11,500,000
+ 4
New York
See Similar DealsMixed-use12,452 SF
Sold 04/09/2019
SOLD
Shaun Ajodan Acquires Mixed-Use Asset In Kips Bay For $11.5M
157-159 Lexington Avenue, Kips Bay, New York, NY, USA
See Similar DealsMixed-use12,452 SF
Sold 04/09/2019
+ 4
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$923
Total Square Footage:12,452 SF
Transaction Type:Sale
Located in the vibrant neighborhood of Kips Bay, the mixed-use property at 157-159 Lexington Ave has recently changed hands in a closed transaction. The property offers a total area of 12,452 square feet and boasts a prime location in the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $11.5M
- Address: 157-159 Lexington Ave
- Market: Kips Bay
The seller of this property was Michael Tsoumpas, while the buyer was Shaun Ajodan. Representing the transaction were Clint Olsen, Brendan Maddigan, Stephen Palmese, Ethan Stanton, Winfield Clifford, and Michael Mazzara from JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$613,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,857.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,515.87
Annual Debt Service$654,190.40
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