Lion Capital And Highstone Capital Acquire Retail Asset In SoHo For $1.65M From Elliot Chehebar
SOLD
$1,650,000
New York
See Similar DealsRetail3,222 SF
Sold
SOLD
Lion Capital And Highstone Capital Acquire Retail Asset In SoHo For $1.65M From Elliot Chehebar
170 Mercer Street
See Similar DealsRetail3,222 SF
Sold
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$512
Total Square Footage:3222 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$88,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
Annual Debt Service$93,862.10
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