Victor Sozio, Shimon Shkury, Howard Raber, Michael Tortorici & Jack Moran Acquire Mixed-Use Property In NoLiTa, Manhattan For $17.76M
SOLD
$17,760,000
+ 2
New York
See Similar DealsMixed-use22,845 SF
Sold 04/16/2021
SOLD
Victor Sozio, Shimon Shkury, Howard Raber, Michael Tortorici & Jack Moran Acquire Mixed-Use Property In NoLiTa, Manhattan For $17.76M
240 Elizabeth Street, Manhattan, New York, NY, USA
See Similar DealsMixed-use22,845 SF
Sold 04/16/2021
+ 2
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$777
Total Square Footage:22,845 SF
Transaction Type:Sale
The mixed-use property located at 196 Elizabeth St. & 240 Mulberry St. in NoLiTa, Manhattan was recently sold for a total price of $17,760,000. The property spans across 22,845 square feet, resulting in a price per square foot of $777.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $17,760,000
- Date: 04/16/2021
- Market: NoLiTa, Manhattan
The sale of the property was facilitated by a team of brokers including Victor Sozio, Shimon Shkury, Howard Raber, Michael Tortorici, and Jack Moran from Ariel Property Advisors - NYC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$947,200.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,097.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$84,191.46
Annual Debt Service$1,010,297.53
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