Cushman & Wakefield Brokers Sell Mixed-Use Property In New York City For $6.26M
703 West 171st Street
$6,260,000
$341/SF
Building Size
18,317 SF
Asset Type
Mixed-use
Closing
Jan 26, 2023
About this deal
AI
The mixed-use property located at 703 West 171st Street in New York City has been sold in a closed transaction. The property is currently vacant and benefits from the 421a tax incentive program. The sale price for this transaction was $6,260,000, with a total square footage of 18,317. This equates to a price per square foot of $342.
Summary of transaction details
- Property Type: Mixed-Use (Vacant w/421a)
- Transaction Amount: $6,260,000
- Square Footage: 18,317
- Price per Square Foot: $342
- Address: 703 West 171st Street, New York City
- Market: New York City
The sale of this property was facilitated by Ian Brooks and Robert M. Shapiro, representing Cushman & Wakefield. They served as the brokers in this deal, working tirelessly to ensure a successful transaction for both parties involved.
New York City 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
2.53%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93