Kazuya Tokai Acquires Mixed-Use Property In New York City For $4.2M
838 2nd Avenue
$4,200,000
$1,061/SF
Building Size
3,958 SF
Asset Type
Mixed-use
Closing
Apr 18, 2023
AI
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.
Players
Market 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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93