The Baez Family Acquires Mixed-Use Building In TriBeCa, Manhattan For $7.8M
311 Church Street, Manhattan, New York, NY, USA
$7,800,000
$893/SF
Building Size
8,729 SF
Asset Type
Mixed-use
Closing
Oct 25, 2021
AI
This mixed-use property located at 311 Church Street in TriBeCa, Manhattan has been recently sold. The sale was facilitated by Jacob Harooni and Matthew Homapour from SP Capital Group. The property was sold to the Baez Family for a total price of $7,800,000. It consists of 4 residential units and 1 commercial unit, all of which are fully occupied. The property spans a total of 8,729 square feet, with a price per square foot of $894.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7,800,000
- Address: 311 Church Street
- Market: TriBeCa, Manhattan
- Buyer: The Baez Family
- Brokers: Jacob Harooni & Matthew D. Homapour Esq. - SP Capital Group
- Units: 5
- Price Per Unit: $1,560,000
- Total Square Feet: 8,729
- Price Per Square Foot: $894
To explore other off-market investment opportunities in the boroughs, interested parties can reach out to Jacob Harooni at (212) 343-3042 or [email protected], and Matthew D. Homapour, Esq. at (347) 486-4467 or [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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93