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393 2nd Avenue

Amy Wong Acquires Mixed-Use Property In Gramercy Park For $3.88M
SOLDMixed-use

Amy Wong Acquires Mixed-Use Property In Gramercy Park For $3.88M

393 2nd Avenue

$3,880,000

$806/SF

Building Size

4,810 SF

Asset Type

Mixed-use

Closing

Apr 17, 2023

AI

A mixed-use property located at 393 Second Avenue in Gramercy Park has been sold for a total price of $3,880,000. The property consists of four units with a price per unit of $970,000. The total square footage of the property is 4,810, with a price per square foot of $807.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $3,880,000
  • Units: 4
  • Price per Unit: $970,000
  • Square Footage: 4,810
  • Price per Square Foot: $807

The buyer of the property is Amy Wong, while the seller is Dan Kaplan. The brokers involved in the transaction are Peter Von Der Ahe, Joe Koicim, Jared Bernstein, and Jared Berkey from New York Multifamily and Marcus & Millichap NY.

Players

Jared Berkey

Marcus & Millichap

Broker

$21.9M

vol

3 deals

Broker
Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker
Dan Kaplan

Dan Kaplan

FPA Multifamily

Seller

$886.6M

vol

6 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

4.09%

Cash-on-Cash

-1.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93