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53 Stone St New York, Ny 10...

Platinum Properties Acquires Mixed-Use Property In Financial District For $15.1M
SOLDMixed-use

Platinum Properties Acquires Mixed-Use Property In Financial District For $15.1M

53 Stone St New York, Ny 10004, Usa

$15,100,000

$1,163/SF

Building Size

12,977 SF

Asset Type

Mixed-use

Closing

Jun 29, 2023

AI

Located in the Financial District, the mixed-use property at 53-55 Stone Street has been sold in a closed transaction. The property spans 12,977 square feet, with a sale price of $15,100,000, resulting in a price per square foot of $1,163.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $15,100,000
  • Address: 53-55 Stone Street
  • Market: Financial District

The sale of 53-55 Stone Street was facilitated by Davean Holdings, represented by Sean Lefkovits and David Lloyd. Acting as the seller's representative was Khashy Eyn from Platinum Properties, while Steven Evans, also from Platinum Properties, served as the buyer's representative. It is worth noting that the seller had acquired the properties in September 2021 for a price of $10,100,000.

Players

Khashy Eyn

Platinum Commercial

Broker

$581.9M

vol

24 deals

Broker
Sean Lefkovits

Sean Lefkovits

Davean Holdings

Seller

$295.5M

vol

34 deals

Seller

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

1.05%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93