Estate Of Eleben Yau Mei Wong Sells Mixed-use Property In Manhattan For $13M
SOLD
$13,000,000
New York
See Similar DealsMixed-use38,797 SF
Sold 04/23/2021
SOLD
Estate Of Eleben Yau Mei Wong Sells Mixed-use Property In Manhattan For $13M
175 Third Avenue, Manhattan, New York, NY, USA
See Similar DealsMixed-use38,797 SF
Sold 04/23/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$335
Total Square Footage:38,797 SF
Transaction Type:Sale
The Estate of Eleben Yau Mei Wong has sold three properties in Manhattan for a total of $13,000,000. The properties are located at 175 Third Avenue, 532 Ninth Avenue, and 1901 Lexington Avenue. These mixed-use assets consist of 56 units, 46 of which are residential and 10 are commercial. The total square footage of the properties is 38,797, with a price per square foot of $335.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $13,000,000
- Units: 56 (46 Residential, 10 Commercial)
- Price Per Square Foot: $335
Representing the buyer's side in this transaction is George Niblock from FriedmanRoth. Lily Ren acted as the seller's representative.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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