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

Property Image
SOLD
$4,500,000

New York

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Mixed-use13,635 SF
Sold 04/09/2024
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Property Image
SOLD

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

177 Chrystie Street

See Similar Deals
Mixed-use13,635 SF
Sold 04/09/2024
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$330
Total Square Footage:13,635 SF
Transaction Type:Sale

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
124 deals$1.8B volume
BROKER

Robert Aaron
Horvath & Tremblay
14 deals$104.9M volume(212) 951-1041
BROKER

Details

SOLD
IMAGE: Brandon Polakoff & Robert Aaron DATE: 04/09/2024 ADDRESS: 177 Chrystie Street MARKET: Lower East Side ASSET TYPE: Mixed-use SELLER: Sam Chien BUYER'S REP: Brandon Polakoff (@BfPolly) - Avison Young (@Avison_Young_Global) SELLER'S REP: Robert Aaron - Horvath & Tremblay SALE PRICE: $4,500,000 SF: 13,635 ~ PPSF: $330

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55