Joel Radmin Acquires Mixed Use Property In Tribeca For $3.7M
124 Chambers Street, Manhattan, New York, NY, USA
$3,717,900
$358/SF
Building Size
10,360 SF
Asset Type
Retail
Closing
Nov 27, 2020
About this deal
AI
Located at 124 Chambers Street in the upscale Tribeca neighborhood, a mixed-use property was recently sold for a total of $3,717,900. The property, situated in a C6-3A zoned area, offers a total building square footage (BSF) of 14,243 and a price per BSF (PPBSF) of $261. With a spacious interior spanning 10,360 square feet, the property boasts a price per square foot (PPSF) of $358.
Summary of transaction details
- Property Type: Mixed Use
- Transaction Amount: $3,717,900
- Address: 124 Chambers Street
- Market: Tribeca
- Zoning: C6-3A
Joel Radmin acted as the buyer in this closed transaction, having acquired the property from Mitchell Banchik. Representing the buyer and seller respectively, Richard Guarino from Friedman Roth facilitated the deal. The previous sale of the property took place on June 16th for $7 million.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.27%
Cash-on-Cash
-1.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93