Marcus & Millichap Brokers Sell Mixed-Use Property In Washington Heights For $3.7M
500 West 170th Street, New York, NY 10032
$3,700,000
$248/SF
Building Size
14,901 SF
Asset Type
Mixed-use
Closing
Jun 30, 2020
About this deal
AI
A mixed-use property located at 500 West 170th Street in Washington Heights has been sold for $3,700,000. The property consists of 21 units with an average price per unit of $176,190. It spans across 14,901 square feet, resulting in a price per square foot of $248.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,700,000
- Units: 21
- Price per Unit: $176,190
- Square Footage: 14,901
- Price per Square Foot: $248
Peter Von Der Ahe, Joe Koicim, Seth Glasser, and Jake Kahn from New York Multifamily and Marcus & Millichap represented the parties involved in the transaction.
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
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93