Marcus & Millichap Brokers Sell NoLita Mixed-Use Property For $11.25M
SOLD
$11,250,000
+ 1
New York
See Similar DealsMultiFamily13,394 SF
Sold 11/11/2021
SOLD
Marcus & Millichap Brokers Sell NoLita Mixed-Use Property For $11.25M
9 Spring Street, Manhattan, New York, NY, USA
See Similar DealsMultiFamily13,394 SF
Sold 11/11/2021
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$839
Total Square Footage:13,394 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$600,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,968.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,330.74
Annual Debt Service$639,968.87
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