Updated Dec 19, 2023
Zhi Li Pan Acquires Multifamily Property In Chinatown For $7.4M
91-93 Baxter Street, New York City, New York 10013, United States
$7,400,000
$268/SF
Building Size
27,528 SF
Asset Type
MultiFamily
Closing
May 9, 2022
About this deal
AI
A multifamily property located at 91-93 Baxter Street in Chinatown has been sold for a total price of $7,400,000. The property consists of 24 units with an average price per unit of $308,333. The total square footage of the property is 27,528, resulting in a price per square foot of $268.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,400,000
- Address: 91-93 Baxter Street
- Market: Chinatown
- Buyer: Zhi Li Pan
- Seller: Michael Messi
- Number of Units: 24
- Price per Unit: $308,333
- Total Square Footage: 27,528
- Price per Square Foot: $268
Zhi Li Pan has purchased the property from Michael Messi. This transaction represents a significant deal in the Chinatown market. Both parties were represented by their respective brokers.
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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93