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197 East 7th Street, Manhat...

Connor Domershick & Max Maleh Acquire Mixed-Use Property In East Village For $3.4M
SOLDMixed-use

Connor Domershick & Max Maleh Acquire Mixed-Use Property In East Village For $3.4M

197 East 7th Street, Manhattan, New York, NY, USA

$3,425,000

$585/SF

Building Size

5,850 SF

Asset Type

Mixed-use

Closing

Feb 10, 2021

AI

The mixed-use property located at 197 E. 7th Street in the East Village has been sold in a recent transaction. The property spans 5,850 square feet and was sold for a price of $3,425,000, resulting in a price per square foot of $585. The property was listed with an asking price of $4,500,000. The sale was completed on February 11, 2021. Irene Kowalczyk was the seller of the property, while the buyers were Connor Domershick and Max Maleh.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,425,000
  • Address: 197 E. 7th Street
  • Market: East Village
  • Square Footage: 5,850
  • Price per Square Foot: $585

Brandon Thomas and Jack Harary from atitudePropertyGroup acted as the brokers representing both the buyers, Connor Domershick and Max Maleh, and the seller, Irene Kowalczyk, in this transaction.

Players

Brandon Thomas

Latitude Property Group

Broker

$165.7M

vol

13 deals

Broker

Connor Domershick

Conway Capital

Buyer

$57M

vol

15 deals

Buyer

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

4.63%

Cash-on-Cash

-1.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93