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389 2nd Avenue

Stephanie Lin Acquires Mixed-Use Property In Gramercy Park For $3.6M
SOLDMixed-use

Stephanie Lin Acquires Mixed-Use Property In Gramercy Park For $3.6M

389 2nd Avenue

$3,565,000

$778/SF

Building Size

4,580 SF

Asset Type

Mixed-use

Closing

Jan 3, 2024

AI

The mixed-use property located at 389 2nd Avenue in Gramercy Park, Manhattan was recently sold in a transaction. The sale price for the property was $3,565,000. The property spans 4,580 square feet, resulting in a price per square foot of $778.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,565,000
  • Address: 389 2nd Avenue
  • Market: Gramercy Park, Manhattan

The sale was facilitated by the brokerage firm Cushman & Wakefield. The buyer for the property is Stephanie Lin, while the seller is Jonathan Levine. Cushman & Wakefield represented both parties in the deal, with Craig Waggner, John Ciraulo, Jack Stephen, and Mike Kavanagh serving as the brokers.

Players

John Ciraulo

Cushman & Wakefield

Broker

$747.3M

vol

48 deals

Broker

Jonathan Levine

Seller

$12.6M

vol

3 deals

Seller

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

4.45%

Cash-on-Cash

-1.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93