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
About this deal
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.
The mixed use sale at 261 Bowery in New York, New York sold for $4.5M in 2024. The building is 4,890 square feet, implying about 920 per square foot on the published price. Adelaide Polsinelli, Compass appear on the sale alongside Compass. This page is the New York, New York file for the 261 Bowery mixed use sold: pricing, party profiles, and other closed mixed use comps from the same New York sit in the Market section below. Filter that New York mixed use set by closing date to see what else sold near 261 Bowery around 2024. Published consideration for 261 Bowery is $4.5M, dated 2024. Cite this Penn South Capital Acquires Mixed-Use Property On 261 Bowery, Lower East Side sale when underwriting similar mixed use product around New York, New York.
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