65 North Moore 1 LLC Acquires Storage Asset In Tribeca For $1.15M
SOLD
$1,150,000
New York
See Similar DealsOffice3,178 SF
Sold
SOLD
65 North Moore 1 LLC Acquires Storage Asset In Tribeca For $1.15M
65 North Moore Street
See Similar DealsOffice3,178 SF
Sold
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$361
Total Square Footage:3178 SF
Transaction Type:Sale
The property at 65 N Moore St. in Tribeca, a storage asset, was sold for $1,150,000. It spans 3,178 square feet, resulting in a price per square foot of $362.
Summary of transaction details:
- Property Type: Storage
- Transaction Amount: $1,150,000
- Address: 65 N Moore St.
- Market: Tribeca
Daniel Barcelowsky from Evergreen Realty & Investments served as the broker facilitating the deal between the buyer, 65 North Moore 1 LLC, and the seller, 65 North Moore LLC. The broker attracted a buyer who offered a significant premium above the initial purchase price from a year prior, while the owner was in the process of securing plans for a mini self-storage facility.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$61,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,085.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,451.59
Annual Debt Service$65,419.04
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