Witnick Real Estate Partners Acquires Mixed-Use Property In Kips Bay For $6.1M
SOLD
$6,075,000
New York
See Similar DealsMixed-use9,460 SF
Sold 12/28/2021
SOLD
Witnick Real Estate Partners Acquires Mixed-Use Property In Kips Bay For $6.1M
212 East 29th Street, New York, NY 10016
See Similar DealsMixed-use9,460 SF
Sold 12/28/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$642
Total Square Footage:9,460 SF
Transaction Type:Sale
The mixed-use property located at 212 East 29th Street in Kips Bay has been sold for a total price of $6,075,000. With a total square footage of 9,460, the property was sold at a price per square foot of $642.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $6,075,000
- Address: 212 East 29th Street
- Market: Kips Bay
The buyer of the property is Witnick Real Estate Partners. The transaction was facilitated by brokers Amit Doshi, Shallini Mehra, and David Schechtman from Meridian Capital.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$324,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,583.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,798.60
Annual Debt Service$345,583.19
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