Corcoran Group Acquires Retail Property In Hudson Square, Manhattan For $5M
SOLD
$5,000,000
+ 1
New York
See Similar DealsRetail1,494 SF
Sold 12/01/2023
SOLD
Corcoran Group Acquires Retail Property In Hudson Square, Manhattan For $5M
45 Renwick Street
See Similar DealsRetail1,494 SF
Sold 12/01/2023
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$3,346
Total Square Footage:1,494 SF
Transaction Type:Sale
A retail property located at 45 Renwick Street in Hudson Square, Manhattan has been sold for $5,000,000. The property spans a total square footage of 1,494, resulting in a price per square foot of $3,347.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,000,000
- Address: 45 Renwick Street
- Market: Hudson Square, Manhattan
- Square Footage: 1,494
- Price per Square Foot: $3,347
The buyer was represented by Max Nehrig from The Corcoran Group, while the sellers were represented by Bobby Carrozzo, Michael Gembecki, and Robert Burton from Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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