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
About this deal
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
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93