Weybourne Properties Acquires Retail Property In New York City For $60M
155 Mercer Street
$60,000,000
$4,444/SF
Building Size
13,500 SF
Asset Type
Retail
Closing
Mar 17, 2023
About this deal
AI
The retail property located at 155 Mercer Street in New York City has been sold in a closed transaction. The property spans 13,500 square feet and was sold for a total price of $60,000,000, resulting in a price per square foot of $4,444. The buyer is Weybourne Properties, represented by James Dyson, while the seller consists of Thor Equities and ASB Real Estate.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $60,000,000
- Address: 155 Mercer Street
- Market: New York City
- Buyer: Weybourne Properties - James Dyson
- Seller: Thor Equities & ASB Real Estate
- Brokers: Doug Middleton, Daniel Kaplan & Justin Arzi - CBRE
The deal was facilitated by brokers Doug Middleton, Daniel Kaplan, and Justin Arzi from CBRE. They played a crucial role in representing the buyer and seller, ensuring a successful transaction. This sale demonstrates the robust retail market in New York City, with the property at 155 Mercer Street garnering significant attention and achieving a favorable sale price.
Players
Market Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93