David Pfeffer Acquires Vacant Building In Manhattan For $7.25M
SOLD
$7,250,000
New York
See Similar DealsMixed-use5,200 SF
Sold 02/02/2018
SOLD
David Pfeffer Acquires Vacant Building In Manhattan For $7.25M
27 East 20th Street, Manhattan, New York, NY, USA
See Similar DealsMixed-use5,200 SF
Sold 02/02/2018
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,394
Total Square Footage:5,200 SF
Transaction Type:Sale
In Manhattan, a vacant building located at 27 East 20th Street has been sold for $7,250,000. The property spans 5,200 square feet, resulting in a price per square foot of $1,394. The transaction took place on 02/02/18.
Summary of transaction details
- Property Type: Vacant Building
- Transaction Amount: $7,250,000
- Seller: Silvershore Properties - David Shorenstein and Jason Silverstein
- Buyer: David Pfeffer
- Broker: Eastern Consolidated's Jonathan Schwartz and Adelaide Polsinelli
The buyer, David Pfeffer, acquired the vacant building from Silvershore Properties, represented by David Shorenstein and Jason Silverstein. The deal was facilitated by Jonathan Schwartz and Adelaide Polsinelli of Eastern Consolidated.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,757.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,368.70
Annual Debt Service$412,424.39
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