David Podolsky Acquires Retail Property On Grand Street In Chinatown, Manhattan For $10.4M
283 Grand Street, Manhattan, New York, NY, USA
$10,400,000
$1,040/SF
Building Size
10,000 SF
Asset Type
Retail
Closing
Oct 22, 2021
About this deal
AI
The retail property located at 283 Grand Street in Chinatown, Manhattan has been sold in a transaction that closed on October 22, 2021. The property is situated in a C6-1G zoning district and features a total building area of 30,000 square feet. The price for the property was $10,400,000, resulting in a price per square foot of $347. The property itself spans 10,000 square feet, equating to a price per square foot of $1040.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $10,400,000
- Address: 283 Grand Street
- Market: Chinatown, Manhattan
- Zoning: C6-1G
- Total Building Area: 30,000 square feet
- Price per Square Foot (Building): $347
- Property Area: 10,000 square feet
- Price per Square Foot (Property): $1040
David Podolsky is the buyer of the property. The transaction signifies an important investment in the vibrant neighborhood of Chinatown, Manhattan.
On the Map
$10,400,000
$1,040/SF
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.53%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93