Lion Cub Development Acquires Retail Property At 170 Mercer Street From Rialto Capital For $2.35M
170 Mercer Street
$2,350,000
$1,156/SF
Building Size
2,032 SF
Asset Type
Retail
Closing
Dec 23, 2024
About this deal
AI
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.
On the Map
$2,350,000
$1,156/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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93