Thomas Walker Acquires Garage In West Village From Jack Jakub For $26M
332 W 11th St Garage, West 11th Street, Manhattan, New York, NY, USA
$26,000,000
$1,046/SF
Building Size
24,837 SF
Asset Type
Other
Closing
Dec 20, 2020
About this deal
AI
The property involved in this transaction is a garage located at 332 W. 11th St. in the West Village market. The sale took place on December 21, 2020. The buyer, Thomas Walker, purchased the property from the seller, Jack Jakub, for a price of $26,000,000. The garage has a total square footage of 24,837 and a price per square foot of $1,046. The transaction also involved a loan amount of $16,720,000 provided by FirstRepublic Bank. The lot size of the property is 50 ft x 102.42 ft.
Summary of transaction details:
- Property Type: Garage
- Transaction Amount: $26,000,000
- Buyer: Thomas Walker
- Seller: Jack Jakub
- Square Footage: 24,837
- Price per Square Foot: $1,046
- Loan Amount: $16,720,000
- Lender: FirstRepublic Bank
- Lot Size: 50 ft x 102.42 ft
In this deal, Thomas Walker represented himself as the buyer, and Jack Jakub represented himself as the seller. FirstRepublic Bank provided the loan for the transaction. The sale of the garage at 332 W. 11th St. in the West Village market for $26,000,000, with a loan amount of $16,720,000, represents a significant transaction in the real estate market.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93