Hubb NYC Acquires Mixed-Use Property On Lower East Side For $63.5M With Blackshore Realty Group's Reps
SOLD
$63,500,000
+ 2
New York
See Similar DealsMixed-use70,000 SF
Sold 05/25/2022
SOLD
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
See Similar DealsMixed-use70,000 SF
Sold 05/25/2022
+ 2
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$907
Total Square Footage:70,000 SF
Transaction Type:Sale
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.
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,386,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$225,602.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$301,022.40
Annual Debt Service$3,612,268.75
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