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
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