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
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