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177 Chrystie Street

A Mixed-Use Property On Lower East Side Sold For $4.5M
SOLDMixed-use

A Mixed-Use Property On Lower East Side Sold For $4.5M

177 Chrystie Street

$4,500,000

$330/SF

Building Size

13,635 SF

Asset Type

Mixed-use

Closing

Apr 9, 2024

AI

The property asset involved in this transaction is a mixed-use building located at 177 Chrystie Street in the Lower East Side market. The sale price for the property was $4,500,000. It encompasses a total square footage of 13,635 with a price per square foot of $330.

Summary of transaction details:

This transaction involved key individuals including the seller, Sam Chien, and the buyer's representative, Brandon Polakoff from Avison Young, along with the seller's representative, Robert Aaron from Horvath & Tremblay. Their participation indicates a structured approach to the deal, ensuring both parties were effectively represented in the transaction.

Players

Brandon Polakoff

Avison Young

Broker

$1.8B

vol

124 deals

Broker

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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93