Adam J Hess & Edward Setton Of Meridian Capital Group Represents Sale Of Mixed-Use Asset For $12M
SOLD
$12,000,000
New York
See Similar DealsMixed-use96,000 SF
Sold 10/02/2024
SOLD
Adam J Hess & Edward Setton Of Meridian Capital Group Represents Sale Of Mixed-Use Asset For $12M
442 Lorimer Street & 54 Maujer Street
See Similar DealsMixed-use96,000 SF
Sold 10/02/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$125
Total Square Footage:96,000 SF
Transaction Type:Sale
This transaction involves a mixed-use property located at 442 Lorimer Street & 54 Maujer Street in the Williamsburg market. The asset features a total of 54 apartments and 5 retail stores, encompassing a square footage of 48,000 and a price per square foot of $250. The overall sale price for this property was $12,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $12,000,000
- Square Footage: 48,000
- Price Per Square Foot: $250
- Address: 442 Lorimer Street & 54 Maujer Street
- Market: Williamsburg
The brokers representing the transaction are Adam J Hess and Edward Setton from Meridian Capital Group, who facilitated the deal involved in this mixed-use property transfer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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