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
About this deal
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.
On the Map
$15,100,000
$1,163/SF
Mixed-use
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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
1.05%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93