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25 Peck Slip, New York City...

Updated Dec 19, 2023

Marcus & Millichap Brokers Sell Mixed-Use Property In South Street Seaport, Manhattan For $8.65M
SOLDMixed-use

Marcus & Millichap Brokers Sell Mixed-Use Property In South Street Seaport, Manhattan For $8.65M

25 Peck Slip, New York City, New York 10038, United States

$8,650,000

$813/SF

Building Size

10,635 SF

Asset Type

Mixed-use

Closing

Mar 8, 2022

About this deal

AI

Located in the South Street Seaport neighborhood of Manhattan, a mixed-use property at 25 Peck Slip has recently been sold for $8,650,000. The transaction took place on March 9, 2022, and was facilitated by brokers Mark Zarrella, Joe Koicim, and Shaun Riney from Marcus & Millichap. This property features 6 units with a price per unit of $1,442,000. The total square footage of the property is 10,635, with a price per square foot of $813.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $8,650,000
  • Address: 25 Peck Slip
  • Market: South Street Seaport, Manhattan
  • Brokers: Mark Zarrella, Joe Koicim, and Shaun Riney - Marcus & Millichap
  • Units: 6
  • Price per Unit: $1,442,000
  • Square Footage: 10,635
  • Price per Square Foot: $813

The property's sale involved a collaborative effort by brokers Mark Zarrella, Joe Koicim, and Shaun Riney from Marcus & Millichap. With their expertise and knowledge of the South Street Seaport market, they successfully negotiated the sale of this mixed-use property.

Players

Joe Koicim

Marcus & Millichap

Broker

$2.8B

vol

179 deals

Broker
Shaun Riney
Verified Badge

Shaun Riney

Marcus & Millichap

Broker

$1.9B

vol

377 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $813 per square foot on a published $8.7M for 10,635 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.83%

Cash-on-Cash

-0.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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