HUBB NYC Acquires Mixed-Use Property In New York For $24.6M
99 Suffolk St, New York, NY, 10002
$24,600,000
$831/SF
Building Size
29,600 SF
Asset Type
Mixed-use
Closing
Apr 11, 2016
AI
The property involved in this transaction is a mixed-use asset located at 99 Suffolk St, New York, NY, 10002. The sale took place on April 11, 2016, with a transaction amount of $24,600,000.00. The asset encompasses a total square footage of 29,600. The property is situated in the New York market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $24,600,000.00
- Address: 99 Suffolk St, New York, NY, 10002
- Market: New York
- Square Footage: 29,600
- Buyer's Representative: Mei Ling Wong-Cushman & Wakefield, Michael Decheser-Cushman & Wakefield
- Buyer: HUBB NYC
Mei Ling Wong and Michael Decheser, both from Cushman & Wakefield, represented the buyer, HUBB NYC, in this transaction. Their involvement highlights the role of experienced representatives in managing significant real estate deals within the competitive New York market.
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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93