Alchemy Ventures And S & A Capital Group Acquire Mixed-use Property In Tribeca For $12.55M
251 Church Street
$12,550,000
$870/SF
Building Size
14,425 SF
Asset Type
Mixed-use
Closing
Aug 16, 2024
AI
A mixed-use property located at 251 Church Street, also known as 69 Leonard Street, was sold in the Tribeca market for $12,550,000. The property encompasses 14,425 square feet, resulting in a price per square foot of $870.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $12,550,000
- Address: 251 Church Street aka 69 Leonard Street
- Market: Tribeca
- Buyer: Alchemy Ventures and S & A Capital Group
- Seller: Rig Realty
- Brokers: Maurice Suede, Eric Roth, Brett Siegel & Mike Kavanagh - Newmark
- Square Footage: 14,425
- Price per Square Foot: $870
Newmark played a crucial role in facilitating the sale of the property, with representation from brokers Maurice Suede, Eric Roth, Brett Siegel, and Mike Kavanagh. For further inquiries or similar opportunities, interested parties can contact Maurice Suede at 212-916-2932.
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
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93