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UBS Acquires Mixed-Use Property In East Village For $34M

Property Image
SOLD
$34,000,000
Jeffrey (Jeff) Julien
Steven Rutman
+ 1

New York

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Mixed-use37,000 SF
Sold 04/24/2020
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Property Image
SOLD

UBS Acquires Mixed-Use Property In East Village For $34M

19 Saint Marks Place, Manhattan, New York, NY, USA

See Similar Deals
Mixed-use37,000 SF
Sold 04/24/2020
Jeffrey (Jeff) Julien
Steven Rutman
+ 1
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$918
Total Square Footage:37,000 SF
Transaction Type:Sale

A mixed-use property located at 19 St. Marks Pl. in the East Village neighborhood has been sold in a transaction. The property consists of 41 residential units and 5 retail units, with a total of 37,000 square feet. The sale took place on April 24, 2020, and the property was purchased by UBS from Cape Advisors. The sale price for the property was $34,000,000, resulting in a price per square foot of $918.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $34,000,000
  • Address: 19 St. Marks Pl.
  • Market: East Village
  • Buyer: UBS
  • Seller: Cape Advisors
  • Brokers: Jeff Julien, Rob Hinckley, Steve Rutman, Guthrie Garvin - JLL

The deal was facilitated by JLL, with brokers Jeff Julien, Rob Hinckley, Steve Rutman, and Guthrie Garvin representing the parties involved in the transaction. The property's diverse mix of residential and retail units adds to its appeal in the East Village market. This successful sale highlights the strong demand for mixed-use properties in this area.

Players

Jeffrey (Jeff) Julien
58 deals$9B volume
BROKER

Guthrie Garvin
JLL
41 deals$910.9M volume
BROKER

Rob Hinckley
JLL
81 deals$11.6B volume
BROKER

Steven Rutman
JLL
66 deals$8.8B volume
BROKER

UBS
BUYER

Details

SOLD
IMAGE: Jeff Julien, Rob Hinckley, Steve Rutman, Guthrie Garvin DATE: 04/24/2020 ADDRESS: 19 St. Marks Pl. @19StMarks MARKET: East Village ASSET TYPE: Mixed-use SELLER: Cape Advisors BUYER: UBS BROKERS: Jeff Julien, Rob Hinckley, Steve Rutman, Guthrie Garvin - JLL SALE PRICE: $34,000,000 SF: 37,000 ~ PPSF: $918 UNITS: 41 residential & 5 retail units

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$120,794.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$161,177.35
Annual Debt Service$1,934,128.15