Davean Holdings Buys Retail Property On 55 Stone St, New York For $10.1M
SOLD
$10,100,000
New York
See Similar DealsRetail14,690 SF
Sold 09/24/2021
SOLD
Davean Holdings Buys Retail Property On 55 Stone St, New York For $10.1M
55 Stone St, New York, NY, 10004
See Similar DealsRetail14,690 SF
Sold 09/24/2021
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$687
Total Square Footage:14,690 SF
Transaction Type:Sale
The retail property located at 55 Stone St, New York, NY, 10004 was sold for $10,100,000.00 on 09/24/2021. The asset spans 14,690 square feet in the New York market. The seller, Goodman Properties, was represented by Marc Palermo from Douglas Elliman. The buyer in this transaction was Davean Holdings.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,100,000.00
- Address: 55 Stone St, New York, NY, 10004
- Market: New York
- Seller's Rep: Marc Palermo (Douglas Elliman)
- Buyer: Davean Holdings
- SF: 14,690
The sale of the retail property at 55 Stone St was facilitated by Marc Palermo of Douglas Elliman who represented Goodman Properties in the deal. Davean Holdings emerged as the buyer in this transaction, acquiring the property in the bustling New York market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$538,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,883.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,879.15
Annual Debt Service$574,549.83
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