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
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.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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