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Miklos Vasarhelyi Acquires 26 Henry Street In Two Bridges For $1.72M

Property Image
SOLD
$1,720,000

New York

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Mixed-use12,090 SF
Sold 05/30/2024
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Property Image
SOLD

Miklos Vasarhelyi Acquires 26 Henry Street In Two Bridges For $1.72M

26 Henry Street

See Similar Deals
Mixed-use12,090 SF
Sold 05/30/2024
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$142
Total Square Footage:12,090 SF
Transaction Type:Sale

Located at 26 Henry Street in the Two Bridges neighborhood of Manhattan, this mixed-use property was sold for $1,720,000. Spanning 12,090 square feet, the asset was acquired by Miklos Vasarhelyi from the seller, David Wong. The deal was facilitated by brokers Matthew Fotis, Michael Weinstein, and Colton Traynham of Marcus & Millichap.

Summary of transaction details:

This transaction showcased a competitive market environment, with 21 offers, 25 tours, and a swift closing period of 22 days. Achieving a notable 4.43% cap rate, the property was ultimately sold for 101% of the asking price, highlighting the strong demand and value perception among potential buyers.

Players

Matt Fotis
111 deals$598M volume(212) 430-5234
BROKER

Colton Traynham
Marcus & Millichap
17 deals$115.2M volume
BROKER

Michael Weinstein
Marcus & Millichap
9 deals$48.1M volume(212) 430-5122
BROKER

Details

SOLD
IMAGE: Michael Weinstein, Matthew Fotis & Colton Traynham DATE: 05/30/2024 ADDRESS: 26 Henry Street MARKET: Two Bridges, Manhattan ASSET TYPE: Mixed-use BUYER: Miklos Vasarhelyi SELLER: David Wong BROKERS: Matthew Fotis (@FotisMatt), Michael Weinstein (@MikeWeinstein_NYC) & Colton Traynham - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $1,720,000 SF: 12,090 ~ PPSF: $142 NOTE FROM BROKER: - 4.43% Cap Rate - 21 Offers - 25 Tours - 22 Days - 101% of Asking Price

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$91,733.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,110.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,153.68
Annual Debt Service$97,844.13