Eric Zhu Acquires Office Building On Elizabeth Street For $5.1M
SOLD
$5,100,000
New York
See Similar DealsOffice9,433 SF
Sold 09/15/2022
SOLD
Eric Zhu Acquires Office Building On Elizabeth Street For $5.1M
86 Elizabeth Street, New York City, New York 10013, United States
See Similar DealsOffice9,433 SF
Sold 09/15/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$540
Total Square Footage:9,433 SF
Transaction Type:Sale
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.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$271,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,119.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,176.60
Annual Debt Service$290,119.22
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