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Phillip R. Patton Acquires Retail Property At 391 Canal Street From Tomer Hillel For $4.85M
SOLD
$4,850,000
New York
See Similar DealsRetail2,208 SF
Sold 06/11/2026
SOLD
Phillip R. Patton Acquires Retail Property At 391 Canal Street From Tomer Hillel For $4.85M
391 Canal Street
See Similar DealsRetail2,208 SF
Sold 06/11/2026
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$2,196
Total Square Footage:2,208 SF
Transaction Type:Sale
391 Canal Street is a retail property located in the Soho neighborhood of Manhattan, featuring a total area of 2,208 square feet. The transaction was completed at a price of $4,850,000, which corresponds to a price per square foot of $2,197.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,850,000
- Square Footage: 2,208 SF
- Price per Square Foot: $2,197
- Address: 391 Canal Street
- Market: Soho, Manhattan
- Buyer: Phillip R. Patton
- Seller: Tomer Hillel
Phillip R. Patton has successfully acquired the retail property from Tomer Hillel. This sale highlights the ongoing demand for retail assets in the competitive Soho market, showcasing the interests of buyers in prime locations.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$258,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,231.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,991.47
Annual Debt Service$275,897.69
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