Fred Schoenfeld Acquires Mixed-use Property In Greenwich Village From Seidman Family For $11M
169 Sullivan Street, Manhattan, New York, NY, USA
$11,000,000
$873/SF
Building Size
12,590 SF
Asset Type
Mixed-use
Closing
Dec 14, 2020
About this deal
AI
The mixed-use property located at 169 Sullivan Street in Greenwich Village has been sold in a recent transaction. The property, which falls under R7-2 zoning, offers a combination of residential and commercial spaces.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $11,000,000
- Address: 169 Sullivan Street
- Market: Greenwich Village
- Units: 20
- Total Square Footage: 12,590
- Price Per Unit: $550,000
- Price Per Square Foot: $874
- CAP Rate: 4.90%
The buyer, Fred Schoenfeld, acquired the property from the Seidman Family. The transaction was facilitated by brokers Peter Von Der Ahe, Joe Koicim, and Peter Dodge from NewYorkMultifamily and MarcusMillichap_NY. The buyer was represented by Andy Albstein and Stewart Wolf from Goldberg Weprin, while the seller was represented by Dan Rothman from Rothman Law.
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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93