Witnick Real Estate Partners Acquires Mixed-Use Property In Kips Bay For $6.1M
212 East 29th Street, New York, NY 10016
$6,075,000
$642/SF
Building Size
9,460 SF
Asset Type
Mixed-use
Closing
Dec 28, 2021
About this deal
AI
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.
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
2.61%
Cash-on-Cash
-0.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93