Amy Kit-Ming Mak Acquires Mixed-Use Property In NoLiTa For $5.48M
SOLD
$5,480,000
New York
See Similar DealsMixed-use3,497 SF
Sold 09/22/2021
SOLD
Amy Kit-Ming Mak Acquires Mixed-Use Property In NoLiTa For $5.48M
5 Prince Street, Manhattan, New York, NY, USA
See Similar DealsMixed-use3,497 SF
Sold 09/22/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,567
Total Square Footage:3,497 SF
Transaction Type:Sale
Located in the vibrant neighborhood of NoLiTa, the mixed-use property at 5 Prince Street has recently changed hands in a closed transaction. The sale took place on September 22, 2021. Situated on a lot measuring 20.58 ft x 90 ft, this property offers a prime location for diverse commercial and residential opportunities.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $5,480,000
- Buyer: Amy Kit-Ming Mak
- Market: NoLiTa
Amy Kit-Ming Mak, acting as the buyer's representative, acquired this property for a total of $5,480,000. With a building square footage of 3,497, the price per square foot amounts to $1,567. The property's total building square footage is 10,440, resulting in a price per buildable square foot of $524. This transaction presents a valuable investment opportunity in the bustling NoLiTa market.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$292,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,469.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,978.00
Annual Debt Service$311,735.95
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