Mequity Companies Acquires Garage In New York City For $32.2M
SOLD
$32,200,000
+ 1
New York
See Similar DealsOther61,957 SF
Sold 03/28/2019
SOLD
Mequity Companies Acquires Garage In New York City For $32.2M
41 East 21st Street, New York, NY, USA
See Similar DealsOther61,957 SF
Sold 03/28/2019
+ 1
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$519
Total Square Footage:61,957 SF
Transaction Type:Sale
The property at 41 E 21st St in New York City has been sold in a closed transaction. The asset involved in the transaction is a garage, spanning approximately 61,957 square feet. It was sold for a price of $32,200,000, resulting in a price per square foot of $519. The transaction took place on March 28, 2019.
Summary of transaction details
- Property Type: Garage
- Transaction Amount: $32,200,000
- Address: 41 E 21st St, New York City
- Square Footage: 61,957
- Price Per Square Foot: $519
The buyer of the property is Mequity Companies, while the seller is The Zucker Organization. The deal was facilitated by the brokers Steve Lorenzo, Mitchell Salmon, Christopher Ventura, and Sidney Rosenthal, who represent Lee & Associates.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,717,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$114,399.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$152,644.43
Annual Debt Service$1,831,733.13
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