Transworld Equities Acquires Mixed-Use Property In Hell's Kitchen For $20M
689 8th Avenue, New York City, New York 10036, United States
$20,000,000
Building Size
—
Asset Type
Mixed-use
Closing
May 24, 2022
AI
The mixed-use property located at 689 8th Avenue in Hell’s Kitchen, was recently sold for a total of $20,000,000. The transaction took place on 06/10/2022, and it involved the buyer, Transworld Equities, and the seller, Dori Nagar. The property consists of 4 units, with an average price per unit (PPU) of $5,000,000. It spans a total area of 5,503 square feet, with a price per square foot (PPSF) of $3,634.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $20,000,000
- Address: 689 8th Avenue
- Market: Hell’s Kitchen
- Buyer: Transworld Equities
- Seller: Dori Nagar
- Units: 4
- PPU: $5,000,000
- Total Area: 5,503 square feet
- PPSF: $3,634
Transworld Equities represented the buyer in this 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93