Silverstar Properties Acquires Retail Property In Tribeca For $5.75M
SOLD
$5,750,000
New York
See Similar DealsRetail5,500 SF
Sold 07/08/2022
SOLD
Silverstar Properties Acquires Retail Property In Tribeca For $5.75M
326-332 Canal Street, New York City, New York 10013, United States
See Similar DealsRetail5,500 SF
Sold 07/08/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,045
Total Square Footage:5,500 SF
Transaction Type:Sale
The retail property located at 326-332 Canal St. & 39-41 Lispenard St. in Tribeca has been sold for a price of $5,750,000. The property spans approximately 5,500 square feet and has a price per square foot of $1,045. The transaction took place on 07/08/2022 and the property was purchased by Silverstar Properties.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,750,000
- Market: Tribeca
- Address: 326-332 Canal St. & 39-41 Lispenard St.
- Square Footage: 5,500
- Price per Square Foot: $1,045
The sale of this retail property was facilitated by Amit Doshi & Chirag Doshi of the Meridian Capital Group. They represented the buyer, Silverstar Properties, in this transaction. This deal had a cap rate of 6.25%.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,428.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,257.93
Annual Debt Service$327,095.20
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