Dunkin Donuts Acquires Mixed-Use Property In Kips Bay, Manhattan For $3.5M
SOLD
$3,500,000
+ 1
New York
See Similar DealsMixed-use2,701 SF
Sold 05/03/2021
SOLD
Dunkin Donuts Acquires Mixed-Use Property In Kips Bay, Manhattan For $3.5M
601 2nd Avenue, Manhattan, New York, NY, USA
See Similar DealsMixed-use2,701 SF
Sold 05/03/2021
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,295
Total Square Footage:2,701 SF
Transaction Type:Sale
The mixed-use property located at 597-601 2nd Avenue in Kips Bay, Manhattan has been sold for a price of $3,500,000. The property spans across 2,701 square feet, resulting in a price per square foot of $1,296. The transaction took place on May 3, 2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,500,000
- Address: 597-601 2nd Avenue
- Market: Kips Bay, Manhattan
The deal was facilitated by brokers Howard Raber, Sean R. Kelly, Esq., Jack Moran, and Matthew Gillis from Ariel Property Advisors (ArielPA.NYC). Dunkin Donuts, a well-known tenant, is occupying the property.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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