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32 Clinton Street, New York...

Jason Wu Acquires Retail Property On Lower East Side For $1.8M
SOLDRetail

Jason Wu Acquires Retail Property On Lower East Side For $1.8M

32 Clinton Street, New York City, New York 10002, United States

$1,800,000

$1,428/SF

Building Size

1,260 SF

Asset Type

Retail

Closing

Sep 28, 2022

AI

Located in the vibrant Lower East Side market, a retail property located at 32 Clinton St. has recently changed hands in a closed transaction. The property spans a total of 1,260 square feet and was sold for $1,800,000, resulting in a price per square foot of $1,428. The transaction took place on September 29, 2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $1,800,000
  • Address: 32 Clinton St.
  • Market: Lower East Side

The buyer of the property was Jason Wu, while the seller was SeeFood Media, represented by Jamie Tiampo and Saukok Tiampo. The deal was facilitated by a team of brokers consisting of Jonathan Braun, Chris Varjan, George Steffani, and Kjersten Angell, representing Lee & Associates, along with Mark Roopchan from Prime Manhattan Realty.

Players

Chris Varjan

Lee & Associates

Broker

$469.3M

vol

29 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

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93