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109 Ludlow Street

Updated Sep 5, 2024

Ariel Property Advisors Acquires Package Deal In Lower East Side For $24.8M
SOLDPackage Deal

Ariel Property Advisors Acquires Package Deal In Lower East Side For $24.8M

109 Ludlow Street & 153 Norfolk Street

$24,800,000

$313/SF

Building Size

39,612 SF

Asset Type

Package Deal

Closing

Mar 22, 2023

About this deal

AI

A package deal consisting of two properties located at 109 Ludlow Street and 153 Norfolk Street in the Lower East Side has been sold for a total price of $24,800,000. The combined square footage of the properties is 39,612, resulting in a price per square foot of $626. The transaction took place on 03/22/2023.

Summary of transaction details:

  • Property Type: Package Deal
  • Transaction Amount: $24,800,000
  • Square Footage: 39,612
  • Price Per Square Foot: $626
  • Address: 109 Ludlow Street & 153 Norfolk Street
  • Market: Lower East Side

The buyer's representatives in this deal were Michael Tortorici, Shimon Shkury, Victor Sozio, and Howard Raber from Ariel Property Advisors. On the other hand, Michael Decheser and Bryan Hurley represented the seller as part of Cushman & Wakefield.

On the Map

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$24,800,000

$313/SF

Package Deal

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Players

Michael A. Tortorici

Ariel Property Advisors

Broker

$908.9M

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48 deals

Broker
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Market Package Deal Market Snapshot

Boundary boundary · Package Deal · Sale transactions

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Deal FAQ

About $313 per square foot on a published $24.8M for 79,224 square feet (2023).

Visit Victor Sozio to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.64%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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