SOLDMixed-use
Penn South Capital Acquires Mixed-Use Property On 261 Bowery, Lower East Side
261 Bowery
$4,500,000
$920/SF
Building Size
4,890 SF
Asset Type
Mixed-use
Closing
Jun 18, 2024
AI
The mixed-use property located at 261 Bowery in Lower East Side, Manhattan was sold for $4,500,000. The asset spans 4,890 square feet with a price per square foot of $920.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,500,000
- Address: 261 Bowery
- Market: Lower East Side, Manhattan
Adelaide Polsinelli from Compass represented the buyer, Penn South Capital, in the transaction where Tony Janetti acted as the seller.
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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93