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242 10th Avenue, New York, ...

Greenwich Village Capital Acquires Mixed Use Property In Chelsea For $7.6M
SOLDMixed-use

Greenwich Village Capital Acquires Mixed Use Property In Chelsea For $7.6M

242 10th Avenue, New York, NY, USA

$7,600,000

$1,352/SF

Building Size

5,620 SF

Asset Type

Mixed-use

Closing

Apr 16, 2019

AI

The mixed-use property located at 242 Tenth Ave in the Chelsea market has been sold for $7.6 million. The property spans across 5,620 square feet, resulting in a price per square foot of $1,352. The transaction took place on April 17, 2019.

Summary of transaction details:

  • Property Type: Mixed Use
  • Transaction Amount: $7.6M
  • Address: 242 Tenth Ave
  • Market: Chelsea

The buyer of the property is Greenwich Village Capital, represented by Jeff Bogino. The seller in this transaction was Ralf Kuettel. The deal was facilitated by brokers Brock Emmetsberger, Danny Mankovsky, and Ryan Kossoy.

Players

Brock Emmetsberger

Matthews

Broker

$352.8M

vol

28 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage

Jeff Bogino

Buyer

$7.6M

vol

2 deals

Buyer

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

2.09%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93