Douglas Levine Of Big Move Properties Acquires Retail Building At 216 Bowery For $6.27M
216 Bowery
Building Size
9,490 SF
Asset Type
Mixed-use
Closing
Jun 3, 2025
AI
A retail building located at 216 Bowery in the Nolita market of Manhattan was sold for $6,269,480. The property spans 4,888 square feet, translating to a price per square foot of approximately $1,283.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,269,480
- Buyer: Douglas Levine - Big Move Properties
- Seller: Paul Matson - Arizona State Retirement System
- Brokers: Chris Peterson, Evan Clements, Danielle Turpin, Austin Knief & Joe Mastromonaco - Atlantic Capital Partners
- Square Footage: 4,888
- Price per Square Foot: $1,283
The acquisition involved notable figures such as Douglas Levine representing Big Move Properties, which purchased the asset, and Paul Matson representing the Arizona State Retirement System, the seller. The transaction was facilitated by multiple brokers from Atlantic Capital Partners.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · All transaction types transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93