Penn South Capital Sells Mixed-Use Property In East Village For $4.3M
SOLD
$4,300,000
+ 1
New York
See Similar DealsRetail850 SF
Sold 12/15/2021
SOLD
Penn South Capital Sells Mixed-Use Property In East Village For $4.3M
123 1st Avenue, New York City, New York 10003, United States
See Similar DealsRetail850 SF
Sold 12/15/2021
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$5,058
Total Square Footage:850 SF
Transaction Type:Sale
A mixed-use property located at 123 1st Avenue in the East Village was recently sold for $4,300,000. The property spans 3,680 square feet, resulting in a price per square foot of $1,168. The sale took place on December 15, 2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,300,000
- Address: 123 1st Avenue
- Market: East Village
The sellers of the property were Penn South Capital, represented by Parag Sawhney and Raymond Chera. The buyer was not specified in the provided information. The transaction was facilitated by broker Brandon Polakoff from Avison Young.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$229,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33
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