Joel Radmin Acquires Mixed Use Property In Tribeca For $3.7M
SOLD
$3,717,900
New York
See Similar DealsRetail10,360 SF
Sold 11/27/2020
SOLD
Joel Radmin Acquires Mixed Use Property In Tribeca For $3.7M
124 Chambers Street, Manhattan, New York, NY, USA
See Similar DealsRetail10,360 SF
Sold 11/27/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$358
Total Square Footage:10,360 SF
Transaction Type:Sale
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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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$198,288.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,208.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,624.74
Annual Debt Service$211,496.91
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