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55 Stone St, New York, NY, ...

Davean Holdings Buys Retail Property On 55 Stone St, New York For $10.1M
SOLDRetail

Davean Holdings Buys Retail Property On 55 Stone St, New York For $10.1M

55 Stone St, New York, NY, 10004

$10,100,000

$687/SF

Building Size

14,690 SF

Asset Type

Retail

Closing

Sep 24, 2021

AI

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.

Players

Marc Palermo

Douglas Elliman

Broker

$32.6M

vol

3 deals

Broker
Davean Holdings
Davean HoldingsBuyer

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

1.57%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93