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
$17,760,000
$777/SF
Building Size
22,845 SF
Asset Type
Mixed-use
Closing
Apr 15, 2021
AI
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.
Players
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
0.89%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93