Adam Parkoff Acquires Mixed-Use Property From Popular Bank At 7 West 51st St For $28M
SOLD
$28,000,000
New York
See Similar DealsMixed-use
Sold 09/10/2008
SOLD
Adam Parkoff Acquires Mixed-Use Property From Popular Bank At 7 West 51st St For $28M
7 West 51st St
See Similar DealsMixed-use
Sold 09/10/2008
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,493,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42
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