Edifice NYC Management Acquires Mixed-Use Property In East Village For $4.4M
SOLD
$4,400,000
New York
See Similar DealsMixed-use7,560 SF
Sold 11/03/2022
SOLD
Edifice NYC Management Acquires Mixed-Use Property In East Village For $4.4M
337 East 9th New York NY
See Similar DealsMixed-use7,560 SF
Sold 11/03/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$582
Total Square Footage:7,560 SF
Transaction Type:Sale
337 East 9th, located in the East Village, was recently sold in a mixed-use property transaction. The property spans 7,560 square feet and was sold for a total of $4,400,000, resulting in a price per square foot of $582. The transaction took place on November 3, 2022.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $4,400,000
- Market: East Village
The buyer, Edifice NYC Management, represented by Dana Lowey and Holliswood Development, successfully acquired the property. On the other hand, the seller, Ramer & Saperstein, completed the transaction. The deal was facilitated by brokers Aaron Jungreis, Ben Khakshoor, and Alex Fuchs from Rosewood Realty Group.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94
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