Hildreth Real Estate Acquires Mixed-Use Building In Tribeca For $4.3M
302 Canal Street, Manhattan, New York, NY, USA
$4,300,000
$635/SF
Building Size
6,766 SF
Asset Type
Mixed-use
Closing
Nov 5, 2020
About this deal
AI
The mixed-use property located at 302 Canal Street in Tribeca has been sold for $4,300,000. This transaction marks the first sale of the property in over 40 years. The building is fully free market, spanning a total area of 6,766 square feet. With a price per square foot of $635, the property offers ample space for various purposes. The buyer, Hildreth Real Estate, was represented by David Shorenstein, Jason Breitstone, and Max Padway.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,300,000
- Address: 302 Canal Street, Tribeca
- Market: Tribeca
- Zoning: C6-2A, TMU
- Buyer: Hildreth Real Estate - David Shorenstein, Jason Breitstone, Max Padway
- Seller: Roger Roth
- Total Square Footage: 6,766
- Price per Square Foot: $635
- Additional Notes: The property is a fully free market building and this is the first sale in over 40 years.
Hildreth Real Estate, represented by David Shorenstein, Jason Breitstone, and Max Padway, successfully acquired the property. For those interested in commercial real estate deals, Hildreth Real Estate Advisors actively seeks opportunities and can be contacted at [email protected].
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
3.69%
Cash-on-Cash
-1.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93