QB Hospitality Acquires Mixed-Use Property In Midtown East For $3.2M
954 2nd Ave
$3,200,000
$794/SF
Building Size
4,030 SF
Asset Type
Mixed-use
Closing
Sep 8, 2022
About this deal
AI
QB Hospitality has acquired a mixed-use property located at 954 2nd Ave. in Midtown East. The property, spanning 4,030 square feet, was sold by Thomas Chen for a total transaction amount of $3,200,000. This translates to a price per square foot of $794.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,200,000
- Square Footage: 4,030
- Address: 954 2nd Ave.
- Market: Midtown East
Jacob Marrache from PD Properties represented Thomas Chen as the broker in this deal.
The mixed use sale at 954 2nd Ave in New York, New York sold for $3.2M in 2022. The building is 4,030 square feet, implying about 794 per square foot on the published price. Named participants on the 954 2nd Ave sale are Jacob Marrache, Thomas Chen. This page is the New York, New York file for the 954 2nd Ave mixed use sold: pricing, party profiles, and other closed mixed use comps from the same New York sit in the Market section below. Filter that New York mixed use set by closing date to see what else sold near 954 2nd Ave around 2022. Published consideration for 954 2nd Ave is $3.2M, dated 2022. Cite this QB Hospitality Acquires Mixed-Use Property In Midtown East For $3.2M sale when underwriting similar mixed use product around New York, New York.
On the Map
$3,200,000
$794/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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93