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41 White Street

Onur Tatar Acquires Mixed-Use Property In Tribeca, Manhattan For $14M
SOLDMixed-use

Onur Tatar Acquires Mixed-Use Property In Tribeca, Manhattan For $14M

41 White Street

$1,400,000

$116/SF

Building Size

12,000 SF

Asset Type

Mixed-use

Closing

May 8, 2024

AI

The mixed-use property located at 41 White Street in Tribeca, Manhattan was sold for $14,000,000. Spanning 12,000 square feet, the property was acquired at a price per square foot of $1,167. The sale was facilitated by Brian Gladstone, David Schechtman, and Abie Kassin from Meridian Capital Group.

Summary of transaction details:

Onur Tatar of Tatar Holding purchased the property from Benchmark Real Estate Group. The deal was successfully closed with the assistance of the three brokers, Brian Gladstone, David Schechtman, and Abie Kassin, all from Meridian Capital Group.

Players

Abie Kassin

Meridian Capital Group

Broker

$1.6B

vol

52 deals

Broker

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

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93