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Scott Segal Acquires Mixed-use Building At 35 Spring Street In Nolita Manhattan For $7.2M

Property Image
SOLD
$7,200,000

New York

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Mixed-use4,576 SF
Sold 02/20/2025
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Property Image
SOLD

Scott Segal Acquires Mixed-use Building At 35 Spring Street In Nolita Manhattan For $7.2M

35 Spring Street

See Similar Deals
Mixed-use4,576 SF
Sold 02/20/2025
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,573
Total Square Footage:4,576 SF
Transaction Type:Sale

A mixed-use building located at 35 Spring Street in Nolita, Manhattan, was sold for $7,200,000. The property spans 4,576 square feet, resulting in a price per square foot of $1,573. The sale was finalized on February 20, 2025.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $7,200,000
  • Address: 35 Spring Street
  • Market: Nolita, Manhattan
  • Square Footage: 4,576
  • Price per Square Foot: $1,573
  • Buyer: Scott Segal
  • Seller: Andrew Suckling

Scott Segal completed the acquisition of the property from Andrew Suckling, marking a significant transaction within the Nolita market. The buyer and seller were key figures in this real estate deal, representing the interests of their respective parties in the transaction.

Players

4 deals$56.4M volume
BUYER

Details

SOLD
IMAGE: 02/20/2025 ADDRESS: 35 Spring Street MARKET: Nolita, Manhattan ASSET TYPE: Mixed-use BUYER: Scott Segal SELLER: Andrew Suckling SALE PRICE: $7,200,000 SF: 4,576 ~ PPSF: $1,573 NOTE: Scott Segal acquired 35 Spring Street, a 4,576 SF mixed-use building in Nolita, Manhattan, for $7.2M ($1,573 PPSF) from Andrew Suckling. Sale closed on 02/20/2025.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$384,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$25,580.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,131.67
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