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316 Bowery

Justin Beck Acquires Retail Property On Bowery, Noho From Walter Samuels For $3.2M
SOLDRetail

Justin Beck Acquires Retail Property On Bowery, Noho From Walter Samuels For $3.2M

316 Bowery

$3,200,000

$914/SF

Building Size

3,500 SF

Asset Type

Retail

Closing

Apr 15, 2024

AI

The retail property located at 316 Bowery in Noho, Manhattan, was successfully sold for $3,200,000. The asset spans 3,500 square feet, resulting in a price per square foot of $914. The transaction, completed on 04/15/2024, involved the buyer Justin Beck and the seller Walter Samuels. The deal was facilitated by Jade Shenker from Serhant, who noted that it was an all-cash deal.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $3,200,000
  • Market: Noho, Manhattan
  • Buyer: Justin Beck
  • Seller: Walter Samuels
  • Broker: Jade Shenker - Serhant
  • SF: 3,500
  • PPSF: $914
  • Date: 04/15/2024

Justin Beck acquired the retail property from Walter Samuels in Noho, Manhattan. The transaction was managed by Jade Shenker from Serhant, who ensured the smooth completion of the all-cash deal, showcasing expertise in facilitating successful real estate transactions.

Players

Jade Shenker

Serhant

Broker

$16.1M

vol

4 deals

Broker

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

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93