CBRE Acquires Retail Property In Financial District, Manhattan For $38M
SOLD
New York
See Similar DealsRetail8,625 SF
Sold 10/20/2023
SOLD
CBRE Acquires Retail Property In Financial District, Manhattan For $38M
144 Fulton Street
See Similar DealsRetail8,625 SF
Sold 10/20/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$4,405
Total Square Footage:8,625 SF
Transaction Type:Sale
The retail property located at 144 Fulton Street in the Financial District of Manhattan has been sold for a total of $38,000,000. The property spans across 8,625 square feet, resulting in a price per square foot of $4,406.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $38,000,000
- Square Footage: 8,625
- Price per Square Foot: $4,406
- Address: 144 Fulton Street
- Market: Financial District, Manhattan
The buyer's representatives involved in this deal were Daniel Kaplan and Justin Arzi from CBRE. On the other hand, the seller's representatives were David Shalom, James Nelson, Brent Glodowski, and Edward Nelson from Avison Young.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,026,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$135,005.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$180,139.39
Annual Debt Service$2,161,672.64
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