Westover Companies Acquires Mixed-Use Property In East Village, Manhattan For $56.8M
SOLD
$11,725,000
New York
See Similar DealsMixed-use6,022 SF
Sold 12/29/2021
SOLD
Westover Companies Acquires Mixed-Use Property In East Village, Manhattan For $56.8M
60 3rd Avenue, New York City, New York 10003, United States
See Similar DealsMixed-use6,022 SF
Sold 12/29/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,947
Total Square Footage:6,022 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$625,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,656.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,582.48
Annual Debt Service$666,989.78
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