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42 Lispenard St, New York, ...

Montauk Sofa Acquires Retail Condo On Lispenard Street In Manhattan For $4.5M
SOLDRetail

Montauk Sofa Acquires Retail Condo On Lispenard Street In Manhattan For $4.5M

42 Lispenard St, New York, NY 10013, USA

Building Size

4,200 SF

Asset Type

Retail

Closing

Sep 4, 2017

AI

The property involved in this closed transaction is a retail condo located at 42 Lispenard Street, New York, in the bustling market of Manhattan. The retail condo spans a total of 4,200 square feet and was sold at a price of $4,500,000, resulting in a price per square foot of $1071.

Summary of transaction details:

  • Property Type: Retail Condo
  • Transaction Amount: $4,500,000
  • Address: 42 Lispenard Street
  • City: New York
  • Market: Manhattan
  • Square Footage: 4,200
  • Price per Square Foot: $1071

The seller in this transaction was Stefano Farsura and the Colonnade Group. Montauk Sofa, represented by their broker David Gomez (@davpedia), acted as the buyer.

Players

David Gomez

Peak Real Estate

Broker

$402.3M

vol

71 deals

Broker
MS
Montauk SofaBuyer
CG
Colonnade GroupSeller

New York Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93