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167 Chrystie Street, New Yo...

Hubb NYC Acquires Mixed-Use Property On Lower East Side For $63.5M With Blackshore Realty Group's Reps
SOLDMixed-use

Hubb NYC Acquires Mixed-Use Property On Lower East Side For $63.5M With Blackshore Realty Group's Reps

167 Chrystie Street, New York City, New York 10002, United States

$63,500,000

$907/SF

Building Size

70,000 SF

Asset Type

Mixed-use

Closing

May 24, 2022

AI

167 Chrystie St. in Lower East Side has been sold in a mixed-use transaction. The property spans 70,000 square feet and was sold for $63,500,000, resulting in a price per square foot of $907.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $63,500,000
  • Address: 167 Chrystie St.
  • Market: Lower East Side

The buyer, Hubb NYC, represented by John McCarthy and Jesse Terry, acquired the property from Be-Aviv, represented by Ben Harlev and Eyal Epstein. The sale was facilitated by Joseph Friedman and Julian Perla from Blackshore Realty Group.

Players

Joseph Friedman

Broker

$66.3M

vol

5 deals

Broker
Jesse Terry

Jesse Terry

HUBB NYC

Buyer

$421.4M

vol

10 deals

Buyer

Ben Harlev

Seller

$65.3M

vol

2 deals

Seller

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

0.25%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93