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Lion Cub Development Acquires Retail Property At 170 Mercer Street From Rialto Capital For $2.35M

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SOLD
$2,350,000

New York

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Retail2,032 SF
Sold
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Property Image
SOLD

Lion Cub Development Acquires Retail Property At 170 Mercer Street From Rialto Capital For $2.35M

170 Mercer Street

See Similar Deals
Retail2,032 SF
Sold
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$1156
Total Square Footage:2032 SF
Transaction Type:Sale

The retail asset located at 170 Mercer Street in Manhattan encompasses a total of 2,032 square feet and has been sold for $2,350,000, resulting in a price per square foot of $1,156.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,350,000
  • Address: 170 Mercer Street
  • Market: Manhattan
  • Square Footage: 2,032
  • Price per Square Foot: $1,156
  • Buyer: LionCub Development & David Elbaz - Highstone Capital
  • Seller: Rialto Capital
  • Broker: Matthew Marshall - Marshall Real Estate

The transaction involved key figures including LionCub Development and David Elbaz representing Highstone Capital, while the seller was Rialto Capital. The deal was facilitated by Matthew Marshall of Marshall Real Estate, highlighting the involvement of prominent real estate professionals in the process.

Players

Matthew Marshall
Marshall Real Estate
Matthew Marshall
24 deals$138.9M volume
BROKER

Details

SOLD
IMAGE: Matthew Marshall, Andrew Aryeh & David Elbaz DATE: 12/23/2024 ADDRESS: 170 Mercer Street MARKET: Manhattan ASSET TYPE: Retail BUYER: LionCub Development (@LionCubDevelopment) & David Elbaz (@DElbaz2190) - Highstone Capital SELLER: Rialto Capital BROKER: Matthew Marshall (@MRENYC) - Marshall Real Estate SALE PRICE: $2,350,000 SF: 2,032 ~ PPSF: $1,156

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$125,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,349.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,140.20
Annual Debt Service$133,682.39