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65 North Moore Street

65 North Moore 1 LLC Acquires Storage Asset In Tribeca For $1.15M
SOLDOffice

65 North Moore 1 LLC Acquires Storage Asset In Tribeca For $1.15M

65 North Moore Street

$1,150,000

$361/SF

Building Size

3,178 SF

Asset Type

Office

Closing

Mar 1, 2024

AI

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.

Players

Daniel Barcelowsky

Evergreen Realty & Investments

Broker

$83.9M

vol

52 deals

Broker

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.79%

Cash-on-Cash

-3.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93