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401 East 57th Street

Peter Ting Acquires Mixed-Use Property At 401 East 57th Street New York For $6.1M
SOLDMixed-use

Peter Ting Acquires Mixed-Use Property At 401 East 57th Street New York For $6.1M

401 East 57th Street

$6,100,000

$1,501/SF

Building Size

4,064 SF

Asset Type

Mixed-use

Closing

Jan 26, 2015

AI

The property involved in this transaction is a mixed-use asset located at 401 East 57th Street in New York. The transaction occurred on January 26, 2015, with a price of $6,100,000.00 and encompasses a total square footage of 4,064.0.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $6,100,000.00
  • Address: 401 East 57th Street
  • Market: New York
  • Square Footage: 4,064.0
  • Buyer: Peter Ting
  • Broker: Michael Ferrara - Brax Realty

Michael Ferrara represented the seller in this transaction. Peter Ting was the buyer, completing the deal on the specified date. The involvement of Brax Realty in the transaction indicates a broker presence contributing to the engagement between the buyer and seller.

Players

Michael Ferrara

Brax Realty

Broker

$411.9M

vol

28 deals

Broker

Peter Ting

Buyer

$24.2M

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

2.60%

Cash-on-Cash

-0.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93