Iris Foundation Acquires 4-Unit Mixed-Use Building On West 86th Street For $8.8M
8 W 86th St New York, NY 10024, USA
$8,750,000
$1,262/SF
Building Size
6,932 SF
Asset Type
Mixed-use
Closing
Jun 28, 2023
About this deal
AI
The Iris Foundation has acquired a four-unit mixed-use building at 8 West 86th Street in the Upper West Side of Manhattan. The sale took place on June 28, 2023, for a price of $8,750,000. The property consists of 25,540 square feet and has a buildable square footage of 6,932. The purchase price per unit is $2,187,500, while the price per square foot is $1,262. The seller in this transaction is Rachel Mead Zweighaft.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $8,750,000
- Units: 4
- Price per Unit: $2,187,500
- Building Square Footage: 25,540
- Price per Building Square Foot: $343
- Total Square Footage: 6,932
- Price per Square Foot: $1,262
The buyer in this transaction is the Iris Foundation, represented by Julian M. Wise. The seller, Rachel Mead Zweighaft, sold the property through the entity Hasda Realty Corp.
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
1.81%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93