Davean Holdings Acquires Mixed-Use Property In Greenwich Village, Manhattan For $8M
231 Sullivan Street, Manhattan, New York, Ny, Usa
$8,000,000
$869/SF
Building Size
9,200 SF
Asset Type
Mixed-use
Closing
Sep 29, 2021
AI
The mixed-use property located at 231-235 Sullivan Street in Greenwich Village, Manhattan has been sold in a transaction. The sale was completed on September 29, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,000,000
- Address: 231-235 Sullivan Street, Greenwich Village, Manhattan
- Market: Greenwich Village, Manhattan
The buyer of the property is Davean Holdings. The seller of the property is Andrew Grabowicz. The deal was facilitated by John Florek and Jon Schwartz from Fairview Property Group.
According to @DaveanHoldings, the properties have great potential in both the retail and residential sectors. The properties are situated directly across the street from NYU and just one block south of Washington Square Park. They are also nearby the recently acquired property at 103-105 Macdougal Street. The location of these properties positions them well to benefit from the ongoing rental boom in Downtown Manhattan.
For any future deals, you can reach out to Davean Holdings at [email protected]. They are currently focused on Manhattan and Prime Brooklyn.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93