Peter Ting Acquires Mixed-Use Property At 401 East 57th Street New York For $6.1M
SOLD
$6,100,000
New York
See Similar DealsMixed-use4,064 SF
Sold 01/26/2015
SOLD
Peter Ting Acquires Mixed-Use Property At 401 East 57th Street New York For $6.1M
401 East 57th Street
See Similar DealsMixed-use4,064 SF
Sold 01/26/2015
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,501
Total Square Footage:4,064 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$325,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,672.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,917.11
Annual Debt Service$347,005.34
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