James Grasso Purchases Mixed-Use Property At 197 Henry Street For $3.525M With Brokers John J. Stewart & Dylan Torey
197 Henry Street
$3,525,000
$705/SF
Building Size
5,000 SF
Asset Type
Mixed-use
Closing
Sep 14, 2025
AI
The mixed-use property located at 197 Henry Street in the Lower East Side was sold for $3,525,000. The asset comprises a total square footage of 5,000, resulting in a price per square foot of $705.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,525,000
- Address: 197 Henry Street
- Market: Lower East Side
- Square Footage: 5,000
- Price per Square Foot: $705
- Buyer: James Grasso
- Seller: Davis Tong
- Brokers: John J. Stewart & Dylan Torey - Marcus & Millichap
The transaction involved key individuals, including buyer James Grasso and seller Davis Tong, with representation provided by brokers John J. Stewart and Dylan Torey from Marcus & Millichap. Their roles were crucial in facilitating this property sale.
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
4.50%
Cash-on-Cash
-1.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93