Lion Capital And Highstone Capital Acquire Retail Asset In SoHo For $1.65M From Elliot Chehebar
170 Mercer Street
$1,650,000
$512/SF
Building Size
3,222 SF
Asset Type
Retail
Closing
Nov 21, 2024
About this deal
AI
A retail property located at 170 Mercer Street in the SoHo market has been sold for $1,650,000. The asset encompasses a total of 3,222 square feet, resulting in a price per square foot of $512.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,650,000
- Square Footage: 3,222 SF
- Price Per Square Foot: $512
- Buyer: Lion Capital & Highstone Capital
- Seller: Elliot Chehebar
- Broker: Matthew Marshall - Marshall Real Estate
- Date of Transaction: 11/21/2024
The transaction involved key individuals including Matthew Marshall as the broker representing the seller, Elliot Chehebar, in the deal. The buying consortium consisted of Lion Capital and Highstone Capital, marking a significant retail investment in the vibrant SoHo area.
On the Map
$1,650,000
$512/SF
Retail
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New York 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
9.61%
Cash-on-Cash
-2.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93