Marc Preston Acquires Retail Property In Turtle Bay, Manhattan For $3.25M
SOLD
$3,250,000
New York
See Similar DealsRetail4,199 SF
Sold 05/26/2021
SOLD
Marc Preston Acquires Retail Property In Turtle Bay, Manhattan For $3.25M
217 East 49th Street, Manhattan, New York, NY, USA
See Similar DealsRetail4,199 SF
Sold 05/26/2021
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$774
Total Square Footage:4,199 SF
Transaction Type:Sale
Located at 217 East 49 Street in Turtle Bay, Manhattan, this retail property was recently sold in a closed transaction. The property spans 4,199 square feet and has a price per square foot of $774. The sale price amounted to $3,250,000, with a lot size of 1,443 square feet. The property is zoned as R8B and has a floor area ratio (FAR) of 2.91. The tax class for this property is 4.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $3,250,000
- Square Footage: 4,199
- Price per Square Foot: $774
- Lot Size: 1,443 sq ft
- Zoning: R8B
- Tax Class: 4
The buyer in this transaction was Marc Preston, while the seller was Juliana Fehlhaber. The property, with lot dimensions of 19.5 ft x 74 ft, underwent an alteration permit of type 2 on April 18, 2007.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,546.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,406.66
Annual Debt Service$184,879.90
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