Updated Sep 9, 2024
Marcus & Millichap Brokers Sell NoLita Mixed-Use Property For $11.25M
9 Spring Street, Manhattan, New York, NY, USA
$11,250,000
$839/SF
Building Size
13,394 SF
Asset Type
MultiFamily
Closing
Nov 11, 2021
About this deal
AI
A mixed-use property located at 9 Spring Street in NoLita has been sold for a price of $11,250,000. The property spans across 13,394 square feet, resulting in a price per square foot of $839.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $11,250,000
The sale was facilitated by a team of brokers from Marcus & Millichap. The brokers involved in the transaction were Matt Fotis, Robert Aaron, Colton Traynham, and Jonathan Zarin.
The multifamily sale at 9 Spring Street, Manhattan, New York, NY, USA in New York, New York sold for $11.3M in 2021. The building is 13,394 square feet, implying about 839 per square foot on the published price. Jonathan Zarin, Robert Aaron, Colton Traynham, Matt Fotis appear on the sale alongside Horvath & Tremblay, Marcus & Millichap. This page is the New York, New York file for the 9 Spring Street, Manhattan, New York, NY, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else sold near 9 Spring Street, Manhattan, New York, NY, USA around 2021. Published consideration for 9 Spring Street, Manhattan, New York, NY, USA is $11.3M, dated 2021. Cite this Marcus & Millichap Brokers Sell NoLita Mixed-Use Property For $11.25M sale when underwriting similar multifamily product around New York, New York.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.41%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93