Jeff Lam Acquires Mixed-Use Property In Chinatown, NYC For $29.2M
SOLD
$29,200,000
+ 2
New York
See Similar DealsMixed-use37,500 SF
Sold
SOLD
Jeff Lam Acquires Mixed-Use Property In Chinatown, NYC For $29.2M
55 Chrystie St, New York, NY 10002, USA
See Similar DealsMixed-use37,500 SF
Sold
+ 2
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$778
Total Square Footage:37500 SF
Transaction Type:Sale
The mixed-use property located at 55-59 Chrystie St. in Chinatown has been sold in a closed transaction. The property comprises both office and retail spaces and spans a total area of 37,500 square feet. The deal involved the sale of the property for a total price of $29,200,000, resulting in a price per square foot of $779.
Summary of transaction details
- Property Type: Mixed-use (Office & Retail)
- Transaction Amount: $29,200,000
- Square Footage: 37,500
- Address: 55-59 Chrystie St., Chinatown
The seller in this transaction was Gary Tse, while the buyer was Jeff Lam. The deal was facilitated by a team of brokers, including Greg Corbin, Aaron Kline, Chaya Milworn, Brandon Serota, and Elliot Haft – all from The Corbin Group at Rosewood Realty Group NY.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,557,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,741.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$138,422.90
Annual Debt Service$1,661,074.77
Is there something missing? Send suggestions