Kyoung Ah Lee Acquires Mixed-Use Property On West 28th Street For $10.5M
SOLD
$10,500,000
+ 1
New York
See Similar DealsMixed-use9,570 SF
Sold 10/18/2019
SOLD
Kyoung Ah Lee Acquires Mixed-Use Property On West 28th Street For $10.5M
42 W 28th St, New York, NY 10001, USA
See Similar DealsMixed-use9,570 SF
Sold 10/18/2019
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,097
Total Square Footage:9,570 SF
Transaction Type:Sale
The mixed-use property located at 42 West 28th Street in the Nomad market has been sold in a closed transaction. The property spans a total square footage of 9,570, with a price per square foot (PPFS) of $1,076. The asking price for the property was $13,000,000, and it was sold for $10,500,000.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $10,500,000
- Address: 42 West 28th Street
- Market: Nomad
- Square Footage: 9,570
- Price per Square Foot (PPFS): $1,076
Uk Choi was the seller of the property, while Kyoung Ah Lee purchased it. The buyer was represented in the transaction by Tony Park and Elad Dror. On the seller's side, Justin Natalizio, Eric Anton, and Chris Warner acted as representatives.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28
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