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838 2nd Avenue

Kazuya Tokai Acquires Mixed-Use Property In New York City For $4.2M
SOLDMixed-use

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

Noah Kossoff

Avison Young

Broker

$385.1M

vol

35 deals

Broker

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