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513 E 13th St, New York, NY...

Gilman Management Acquires Mixed-Use Property In East Village For $2.8M
SOLDMixed-use

Gilman Management Acquires Mixed-Use Property In East Village For $2.8M

513 E 13th St, New York, NY 10009, USA

$2,800,000

$175/SF

Building Size

16,000 SF

Asset Type

Mixed-use

Closing

Sep 8, 2020

AI

A mixed-use property located at 513 East 13th Street in the East Village neighborhood was recently sold for $2,800,000. The property spans a total area of 16,000 square feet with a price per square foot of $175. It consists of 27 units, with an average price per unit of $96,552. The sale took place on September 9, 2020.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,800,000
  • Market: East Village
  • Buyer: Gilman Management - Robert Raphael
  • Seller: Harry Greenbaum
  • Brokers: Aziz Syed & Joseph Gammal - Gideon Asset Management
  • Date: 09/09/2020

The buyer, represented by Robert Raphael of Gilman Management, acquired the property from the seller, Harry Greenbaum. The transaction was facilitated by the brokers Aziz Syed and Joseph Gammal from Gideon Asset Management. For more information about the sale, interested parties can directly contact Aziz Syed at [email protected].

Players

Aziz Syed

Checo Acquisitions

Broker

$2.8M

vol

1 deal

Broker

Robert Raphael

Gilman Management

Buyer

$5.7M

vol

2 deals

Buyer

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

5.67%

Cash-on-Cash

-1.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93