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420 East 14th Street, Manha...

Gorjian Acquisitions Acquires Retail Condo In East Village For $900K
SOLDMixed-use

Gorjian Acquisitions Acquires Retail Condo In East Village For $900K

420 East 14th Street, Manhattan, New York, NY 10009, USA

$900,000

$647/SF

Building Size

1,391 SF

Asset Type

Mixed-use

Closing

Jul 9, 2021

AI

A retail condo located at 420 E. 14th Street in the East Village neighborhood has been sold. The property, spanning 1,391 square feet, was purchased by Gorjian Acquisitions for a price of $900,000. The retail condo was initially listed at an asking price of $1,200,000. The sale price equates to a price per square foot of $647.

Summary of transaction details

  • Property Type: Retail Condo
  • Transaction Amount: $900,000
  • Address: 420 E. 14th Street
  • Market: East Village
  • Square Footage: 1,391

Gorjian Acquisitions, represented by Joel J. Gorjian and Jordan Gorjian, completed the purchase. Preet Sabharwal acted as the broker for this transaction. It is worth noting that Gorjian Acquisitions is a nationwide real estate buyer and actively seeks new deals in the five boroughs. For more information on their real estate activities, you can contact them via email at [email protected] or visit their website at www.gorjianacq.com.

Players

Preet Sabharwal

Broker

$900K

vol

1 deal

Broker

Joel Gorjian

Gorjian Acquisitions

Buyer

$5.8M

vol

5 deals

Buyer
GA
Gorjian AcquisitionsBuyer

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

17.63%

Cash-on-Cash

-5.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93