Eric Zhu Acquires Office Building On Elizabeth Street For $5.1M
86 Elizabeth Street, New York City, New York 10013, United States
$5,100,000
$540/SF
Building Size
9,433 SF
Asset Type
Office
Closing
Sep 14, 2022
About this deal
AI
The office property located at 86 Elizabeth Street in Chinatown, Manhattan was sold on September 15, 2022. The property spans 9,433 square feet and was sold at a price of $5,100,000, resulting in a price per square foot of $540.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,100,000
- Buyer: Eric Zhu
- Seller: Albert Wu
- Address: 86 Elizabeth Street, Chinatown, Manhattan
- Market: Chinatown, Manhattan
- Square Footage: 9,433
- Price per Square Foot: $540
Eric Zhu was the buyer of the property, while Albert Wu sold the asset. This transaction is an example of a successful office sale in Chinatown, Manhattan.
On the Map
$5,100,000
$540/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.11%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93