Westover Companies Acquires Mixed-Use Property In East Village, Manhattan For $56.8M
60 3rd Avenue, New York City, New York 10003, United States
$11,725,000
$1,947/SF
Building Size
6,022 SF
Asset Type
Mixed-use
Closing
Dec 28, 2021
About this deal
AI
A mixed-use property located at 84 Third Avenue in the East Village, Manhattan, has been sold. The sale took place on October 28, 2022, and the property was purchased by Westover Companies, represented by Guntram Weissenberger Jr. The seller, Wafra Inc, was represented by David Hamm.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $56,750,000
- Address: 84 Third Avenue, East Village, Manhattan
- Market: East Village, Manhattan
- Buyer: Westover Companies - Guntram Weissenberger Jr
- Seller: Wafra Inc - David Hamm
The property consists of 85 units, with an average price per unit of $667,647. David Hamm from Wafra Inc and Guntram Weissenberger Jr from Westover Companies played key roles in the transaction as the seller and buyer representatives, respectively.
On the Map
$11,725,000
$1,947/SF
Mixed-use
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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
1.35%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93