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27 East 20th Street, Manhat...

David Pfeffer Acquires Vacant Building In Manhattan For $7.25M
SOLDMixed-use

David Pfeffer Acquires Vacant Building In Manhattan For $7.25M

27 East 20th Street, Manhattan, New York, NY, USA

$7,250,000

$1,394/SF

Building Size

5,200 SF

Asset Type

Mixed-use

Closing

Feb 1, 2018

AI

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.

Players

Adelaide Polsinelli

Compass

Broker

$285M

vol

26 deals

Broker
David Shorenstein

David Shorenstein

Silvershore Properties

Seller

$187.3M

vol

60 deals

Seller

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

2.19%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93