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961 East 167th Street

Joseph Riegler Acquires Mixed-Use Property On 961 E. 167th St. In Foxhurst For $1.975M
SOLDMixed-use

Joseph Riegler Acquires Mixed-Use Property On 961 E. 167th St. In Foxhurst For $1.975M

961 East 167th Street

$1,975,000

$308/SF

Building Size

6,408 SF

Asset Type

Mixed-use

Closing

Jul 12, 2022

AI

Located in the Foxhurst neighborhood, the mixed-use property at 961 E. 167th St. has been sold for a total of $1,975,000. The property spans across 6,408 square feet, resulting in a price per square foot of $308. This transaction marks the transfer of ownership from seller John Ketsoglou to buyer Joseph Riegler.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $1,975,000
  • Square Footage: 6,408
  • Price per Square Foot: $308
  • Address: 961 E. 167th St.
  • Market: Foxhurst

The deal was facilitated by the brokers Derek Bestreich, Luke Sproviero, and Steve Reynolds from Investment Property Realty Group (IPRG). Acting as representatives for their respective parties, they played crucial roles in ensuring the successful completion of the transaction.

Players

Derek Bestreich

Investment Property Realty Group (IPRG)

Broker

$1.1B

vol

312 deals

Broker

Joseph Riegler

Buyer

$11.6M

vol

4 deals

Buyer

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

8.03%

Cash-on-Cash

-2.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93