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

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SOLD
$9,350,000

New York

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Parking Lot
Sold 10/12/2021
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SOLD

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

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

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Parking Lot
Sold 10/12/2021
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Summary

NEW YORK
Asset Type:Parking Lot
Transaction Type:Sale

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
13 deals$108.3M volume
BROKER

Details

SOLD
IMAGE: 10/12/2021 ADDRESS: 102 W 107th St, New York, NY, 10025 MARKET: New York ASSET TYPE: Parking Lot SELLER'S REP: Mark Anderson(Ariel Property Advisors) BUYER: Unknown PRICE: $9,350,000.00

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$498,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,218.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,323.77
Annual Debt Service$531,885.24