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325 Bowery, New York City, ...

Joshua Pickard Acquires Retail Property On Bowery In East Village, Manhattan For $11.5M
SOLDRetail

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

Jeff Goldberger

Atlas Capital Group

Broker

$1.1B

vol

10 deals

Broker

Jeff Goldberger

Atlas Capital Group

Seller

$1.1B

vol

10 deals

Seller

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