Shaun Ajodan Acquires Mixed-Use Asset In Kips Bay For $11.5M
157-159 Lexington Avenue, Kips Bay, New York, NY, USA
$11,500,000
$923/SF
Building Size
12,452 SF
Asset Type
Mixed-use
Closing
Apr 9, 2019
About this deal
AI
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.
On the Map
$11,500,000
$923/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
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93