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
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