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102 W 107th St, New York, N...

$9.35M Parking Lot Sale At 102 W 107th St, New York By Ariel Property Advisors
SOLDParking Lot

$9.35M Parking Lot Sale At 102 W 107th St, New York By Ariel Property Advisors

102 W 107th St, New York, NY, 10025

$9,350,000

Building Size

Asset Type

Parking Lot

Closing

Oct 12, 2021

AI

The parking garage at 102 West 107th Street in New York was recently sold for $9,350,000. The property spans four stories and includes two service elevators, as well as below-grade space. Covering 29,700 square feet, the garage also boasts a 75 by 101 ft. lot with 576 s/f of air rights.

Summary of transaction details:

Ariel Property Advisors played a significant role in arranging the sale of the parking garage, with Victor Sozio, Shimon Shkury, Michael Tortorici, Mark Anderson, and Courtney Lee facilitating the transaction. The property not only features ample space for parking but also includes below-grade areas, service elevators, and valuable air rights.

Players

Mark Anderson

Ariel Property Advisors

Broker

$108.3M

vol

13 deals

Broker

New York Parking Lot Market Snapshot

Boundary boundary · Parking Lot · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.70%

Cash-on-Cash

-0.48%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93