Masataka Shirakashi Acquires Mixed-Use Property On East 50th Street For $8.35M
355 East 50th Street
$8,350,000
$1,199/SF
Building Size
6,960 SF
Asset Type
Mixed-use
Closing
Oct 26, 2023
About this deal
AI
The property involved in the transaction is a mixed-use asset located at 355 East 50th Street in Turtle Bay, Manhattan. The sale price for this asset was $8,350,000, with a total square footage of 7,000, equating to a price per square foot of $1,193.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,350,000
- Address: 355 East 50th Street
- Market: Turtle Bay, Manhattan
- Square Footage: 7,000
- Price Per Square Foot: $1,193
- Buyer: Masataka Shirakashi
- Seller: Peak Capital - Alex Rabin & David Gomez
- Brokers: Brandon Polakoff, Ryan McGuirl, Noah Kossoff, Joseph Moran & Kyle Sabath - Avison Young
The transaction was facilitated by brokers Brandon Polakoff, Ryan McGuirl, Noah Kossoff, Joseph Moran, and Kyle Sabath, all representing Avison Young in the sale. The involvement of Peak Capital as the seller was represented by Alex Rabin and David Gomez.
On the Map
$8,350,000
$1,199/SF
Mixed-use
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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
1.90%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93