Steve Samandarov Purchases Retail Condominium At 57 Bond Street For $5.46M From NOHO Associates
57 Bond Street
$5,460,000
$1,327/SF
Building Size
4,114 SF
Asset Type
Retail
Closing
Oct 30, 2024
AI
The property involved in this transaction is located at 57 Bond Street in the Noho market, comprising a retail condominium of 4,114 square feet. The asset includes 2,510 square feet on Grade and an additional 1,604 square feet in the Lower Level. The sale was finalized at a price of $5,460,000, translating to a price per square foot of $1,327.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,460,000
- Address: 57 Bond Street
- Market: Noho
- Total Square Footage: 4,114
- Price per Square Foot: $1,327
- Buyer: Steve Samandarov
- Seller: NOHO Associates
- Broker: Matthew Marshall - Marshall Real Estate
Matthew Marshall represented the seller in this transaction. As part of the deal, there was a CMBS Loan assumption involved. Marshall Real Estate has successfully completed three CMBS Loan assumption deals within the past 16 months.
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
2.91%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93