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
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