David Levy Acquires Mixed-use Property On Avenue Of The Amer In Theatre District-Times Square, Manhattan For $4.9M
SOLD
$4,945,455
New York
See Similar DealsOffice174,036 SF
Sold 01/14/2022
SOLD
David Levy Acquires Mixed-use Property On Avenue Of The Amer In Theatre District-Times Square, Manhattan For $4.9M
1071 6th Avenue, New York City, New York 10018, United States
See Similar DealsOffice174,036 SF
Sold 01/14/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$28
Total Square Footage:174,036 SF
Transaction Type:Sale
A mixed-use property located at 1071 Avenue Of The Amer in the Theatre District-Times Square neighborhood of Manhattan has been sold in a closed transaction. The property is zoned as C5-3, MiD, and has a lot size of 12,343 square feet. The last recorded sale of the property was on January 7, 2022, for a price of $15,300,000. The recent sale took place on January 14, 2022, with a sale price of $4,945,455.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,945,455
The buyer of the property is David Levy, while the seller is Mark S. Thompson. The property has a building square footage of 174,036 and a price per square foot of $28. The building's total square footage is 185,145, and the price per buildable square foot is $26. The property has a floor area ratio (FAR) of 14.10 and belongs to tax class 4.
Permits for alterations were issued on July 28, 2021. The lot dimensions are 98.75 feet by 125 feet.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$263,757.60
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,570.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,443.98
Annual Debt Service$281,327.76
Is there something missing? Send suggestions