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391 West Street, New York C...

Neil Bender Acquires Mixed-Use Property In West Village, Manhattan For $6.05M
SOLDMixed-use

Neil Bender Acquires Mixed-Use Property In West Village, Manhattan For $6.05M

391 West Street, New York City, New York 10014, United States

$6,050,000

$1,484/SF

Building Size

4,075 SF

Asset Type

Mixed-use

Closing

Feb 15, 2022

AI

The property at 391 West Street, located in the West Village neighborhood of Manhattan, was recently sold in a mixed-use transaction. The asset has a total square footage of 4,075, with a price per square foot of $1,484. The buyer, Neil Bender, purchased the property from seller Wendy Doremus for a total price of $6,050,000. The building has a buildable square footage of 3,260, with a price per buildable square foot of $1,855. The lot size is 815, and the tax class is 2A. The property is zoned as C1-6A with a FAR of 5.00. The lot has a dimension of 28.25 ft x 28.83 ft. The property has a permit for a sign, issued on 11/21/2000.

Summary of transation details

  • Property Type: Mixed-Use
  • Transaction Amount: $6,050,000
  • Market: West Village, Manhattan
  • Buyer: Neil Bender
  • Seller: Wendy Doremus

Neil Bender, represented by his broker, successfully acquired the property at 391 West Street in the West Village neighborhood. On the other hand, Wendy Doremus, represented by her broker, sold the property to Neil Bender. The sale took place on 02/16/2022. The property's lot size is 815, and it has a permit for a sign that was issued on 11/21/2000. The building's lot dimension is 28.25 ft x 28.83 ft. It is worth noting that the property has a zoning classification of C1-6A, with a FAR of 5.00. The tax class for the property is 2A.

Players

Neil Bender

Buyer

$46.2M

vol

4 deals

Buyer

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

2.62%

Cash-on-Cash

-0.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93