Sam Chang's McSam Hotel Group Acquires Chinatown Property For $18.75M
62 Mulberry St, New York, NY 10013, USA
$18,750,000
$538/SF
Building Size
34,800 SF
Asset Type
Other
Closing
Jul 23, 2019
About this deal
AI
Located in Chinatown, the property at 62 Mulberry Street was recently sold for a hefty price of $18,750,000. Spanning across 34,800 square feet, this property was sold at an impressive price per square foot of $538.
Summary of transation details
- Property Type: Sale
- Transaction Amount: $18,750,000
- Square Footage: 34,800
- Price Per Square Foot: $538
- Address: 62 Mulberry Street, Chinatown
- Market: Chinatown
The sellers of this property were Rosita Fu and Man Ki Wong, while the buyer was Sam Chang, representing the McSam Hotel Group. The transaction was facilitated by the seller's representatives, Scott Heller, Steve Weber, and Lou Moskowitz from The Heller Organization. On the buyer's side, Joe Genovese and Lee Odell served as the representatives.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93