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231 Sullivan Street, Manhat...

Davean Holdings Acquires Mixed-Use Property In Greenwich Village, Manhattan For $8M
SOLDMixed-use

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

John Florek

Fairview Property Group

Broker

$264.7M

vol

13 deals

Broker
Davean Holdings
Davean HoldingsBuyer

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