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
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