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217 Madison Street

Danny Guo Acquires Mixed-Use Property In Lower East Side For $2.3M
SOLDMixed-use

Danny Guo Acquires Mixed-Use Property In Lower East Side For $2.3M

217 Madison Street & 219 Madison Street

$4,600,000

$224/SF

Building Size

20,462 SF

Asset Type

Mixed-use

Closing

Jan 12, 2024

AI

The mixed-use property at 217-219 Madison Street, located in Manhattan's Lower East Side, was sold for $2,300,000. The property spans 10,231 square feet, resulting in a price per square foot of $225. Danny Guo acquired the property, purchasing the adjacent walkup buildings from Hing Yiu Ng and Siu Man Ng.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,300,000
  • Buyer: Danny Guo
  • Seller: Hing Yiu Ng & Siu Man Ng
  • Address: 217-219 Madison Street
  • Market: Lower East Side
  • SF: 10,231
  • PPSF: $225

Danny Guo completed the purchase of the adjacent walkup buildings at 217-219 Madison Street in Manhattan's Lower East Side, acquiring the properties from Hing Yiu Ng and Siu Man Ng for a total of $4.6 million in two separate transactions.

Players

Danny Guo

Buyer

$12.6M

vol

3 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

3.45%

Cash-on-Cash

-0.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93