Kazuya Tokai Acquires Mixed-Use Property In New York City For $4.2M
SOLD
$4,200,000
+ 1
New York
See Similar DealsMixed-use3,958 SF
Sold 04/18/2023
SOLD
Kazuya Tokai Acquires Mixed-Use Property In New York City For $4.2M
838 2nd Avenue
See Similar DealsMixed-use3,958 SF
Sold 04/18/2023
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,061
Total Square Footage:3,958 SF
Transaction Type:Sale
A mixed-use property located at 838 2nd Avenue in New York City has been sold in a recent transaction. The property spans 3,958 square feet and was sold for a price of $4,200,000, resulting in a price per square foot of $1,061.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $4,200,000
- Address: 838 2nd Avenue, New York City
- Market: New York City
The buyer of the property is Kazuya Tokai, while the seller is David Shorenstein. The deal was facilitated by brokers Brandon Polakoff, Ryan McGuirl, and Noah Kossoff from Avison Young.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$223,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,921.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,910.14
Annual Debt Service$238,921.71
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