Penn South Capital Acquires Mixed-Use Property On 261 Bowery, Lower East Side
SOLD
$4,500,000
New York
See Similar DealsMixed-use4,890 SF
Sold 06/18/2024
SOLD
Penn South Capital Acquires Mixed-Use Property On 261 Bowery, Lower East Side
261 Bowery
See Similar DealsMixed-use4,890 SF
Sold 06/18/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$920
Total Square Footage:4,890 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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