Highpoint Property Group Acquires Mixed-Use Property On 2nd Avenue In Manhattan
64 2nd Ave, New York, NY 10003, USA
Building Size
63,600 SF
Asset Type
Mixed-use
Closing
Feb 27, 2018
AI
The mixed-use property located at 64 2nd Avenue in Manhattan was recently sold for $6,950,000. Spanning a total area of 6,360 square feet, the property was priced at $1,093 per square foot.
Summary of transaction details:
- Property Type: Mixed Use
- Transaction Amount: $6,950,000
- Address: 64 2nd Avenue, New York
- Market: Manhattan
Cushman and Wakefield’s James Nelson and Brandon Polakoff represented the seller, Gregory Palast & Linda Levy, in the deal. On the buyer's side was Highpoint Property Group, with Drew Popkin handling the transaction.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93