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251 Church Street

Alchemy Ventures And S & A Capital Group Acquire Mixed-use Property In Tribeca For $12.55M
SOLDMixed-use

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

Brett Siegel

Newmark

Broker

$6.4B

vol

79 deals

Broker

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