Adam Parkoff Acquires Mixed-Use Property From Popular Bank At 7 West 51st St For $28M
7 West 51st St
$28,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Sep 10, 2008
AI
The asset involved in this transaction is a mixed-use property located at 7 West 51st St, New York. The property was sold for a total transaction amount of $28,000,000.00.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $28,000,000.00
- Buyer: Adam Parkoff
- Seller: Popular Bank
- Brokers: Josh Augenbaum (Augenbaum Realty)
- Sale Date: 09/10/2008
This transaction reflects the involvement of noted individuals in the real estate market. Adam Parkoff served as the buyer, while Popular Bank acted as the seller. Josh Augenbaum represented the buyer in the deal through his agency, Augenbaum Realty.
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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93