Related Companies Acquires Residential Property On Lower East Side
265 Cherry Street, Lower East Side
$435,000,000
$3,826/SF
Building Size
113,690 SF
Asset Type
Other
Closing
Nov 1, 2020
About this deal
AI
Located in the Lower East Side market, the residential property at 265 Cherry Street was recently sold in a closed transaction in November 2020. The property, which belongs to the asset type of Residential, was involved in this deal.
Summary of transaction details
- Property Type: Residential
- Transaction Amount: Not specified
- Address: 265 Cherry Street
- Market: Lower East Side
The buyer in this transaction was @RelatedCos, while the sellers were @CIMGroup and L+M Development Partners. Representing the deal were brokers Adam Spies, Doug Harmon, Josh King, Adam Doneger, and Marcella Fasulo.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Deal FAQ
About $3.8K per square foot on a published $435M for 113,690 square feet (2020).
Visit Marcella Fasulo to view all their deals.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93