Lin's Temple Corporation Acquires Mixed-Use Property In Chinatown For $7.23M
54 East Broadway, New York City, New York 10002, United State
$7,230,000
$432/SF
Building Size
16,713 SF
Asset Type
Mixed-use
Closing
Sep 7, 2022
About this deal
AI
The mixed-use property located at 54 & 56 East Broadway in Chinatown has been sold for a total of $7,230,000. The property spans across 16,713 square feet, resulting in a price per square foot of $432. The sale took place on September 8, 2022.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7,230,000
- Address: 54 & 56 East Broadway
- Market: Chinatown
The seller of the property was The Yuen Family, while the purchaser was Lin's Temple Corporation, represented by Rose King. Jay Bernstein from Besen Partners acted as the seller's representative, and Boris Ledvech from Ledvech Group represented the buyer in the transaction.
On the Map
$7,230,000
$432/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
2.19%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93