Joshua Pickard Acquires Retail Property On Bowery In East Village, Manhattan For $11.5M
325 Bowery, New York City, New York 10003, United States
$11,500,000
$1,299/SF
Building Size
8,850 SF
Asset Type
Retail
Closing
Dec 26, 2021
AI
The retail property located at 325 Bowery in East Village, Manhattan was recently sold in a closed transaction. The sale took place on December 27, 2021, with Joshua Pickard as the buyer and Jeffrey A Goldberger as the seller. The property has a zoning classification of C6-1 and is situated on a lot size of 1,770 square feet. The previous sale of the property occurred on June 21, 2013, at a price of $9,250,000. The dimensions of the lot are 25.83 feet by 67 feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $11,500,000
- Buildable Square Footage (BSF): 10,620
- Price per Buildable Square Foot (PPBSF): $1,083
- Square Footage (SF): 8,850
- Price per Square Foot (PPSF): $1,299
- Floor-Area Ratio (FAR): 5.00
- Tax Class: 4
Joshua Pickard and Jeffrey A Goldberger were the key individuals involved in the transaction. Joshua Pickard represented himself as the buyer's representative, while Jeffrey A Goldberger represented himself as the seller's representative. This sale transaction marks another successful closed deal in the East Village market of Manhattan.
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
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93