Jack Lai Acquires Mixed-Use Property On Hester Street For $5.15M
SOLD
$5,150,000
New York
See Similar DealsMixed-use4,605 SF
Sold 12/16/2022
SOLD
Jack Lai Acquires Mixed-Use Property On Hester Street For $5.15M
161 Hester Street
See Similar DealsMixed-use4,605 SF
Sold 12/16/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,118
Total Square Footage:4,605 SF
Transaction Type:Sale
The mixed-use property located at 161 Hester Street in New York City has been sold for a total price of $5,150,000. The property spans 4,605 square feet, resulting in a price per square foot of $1,118. The transaction took place on 12/16/2022.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $5,150,000
- Square Footage: 4,605
- Price per Square Foot: $1,118
- Address: 161 Hester Street, New York City
- Market: New York City
The buyer of the property is Jack Lai, while the seller is Lily Lee. The transaction was facilitated by the brokers Stephen Dadourian, Matthew Gavin, and Jonathan Buerger of B6 Real Estate Advisors.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$274,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,296.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,413.63
Annual Debt Service$292,963.53
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