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
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