Bobby Cayre & Jared Epstein Purchase Mixed-Use Property On 675 Hudson Street In NYC For $50M
SOLD
$45,000,000
+ 1
New York
See Similar DealsMixed-use40,000 SF
Sold 01/13/2023
SOLD
Bobby Cayre & Jared Epstein Purchase Mixed-Use Property On 675 Hudson Street In NYC For $50M
675 Hudson Street
See Similar DealsMixed-use40,000 SF
Sold 01/13/2023
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,125
Total Square Footage:40,000 SF
Transaction Type:Sale
The mixed-use property located at 675 Hudson Street in New York City has been sold in a closed transaction for $50,000,000. Spanning over 40,000 square feet, the property was acquired by Bobby Cayre and Jared Epstein. The seller, David Ellis, completed the deal with the assistance of Brett Siegel from Newmark and Evan Layne, also from Newmark.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $50,000,000
- Square Footage: 40,000
- Address: 675 Hudson Street, New York City
- Market: New York City
Bobby Cayre and Jared Epstein successfully acquired the mixed-use property at 675 Hudson Street. The transaction was facilitated by their brokers, Brett Siegel from Newmark and Evan Layne, also from Newmark.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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