Falguni Patel Acquires Retail Property In Tribeca For $2.425M With Brokers Barry Fishbach & Andrew Stern - Newmark
SOLD
$2,425,000
New York
See Similar DealsRetail2,290 SF
Sold 08/01/2022
SOLD
Falguni Patel Acquires Retail Property In Tribeca For $2.425M With Brokers Barry Fishbach & Andrew Stern - Newmark
92 Chambers Street
See Similar DealsRetail2,290 SF
Sold 08/01/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,059
Total Square Footage:2,290 SF
Transaction Type:Sale
A retail property located at 92 Chambers St. in Tribeca has been sold for $2,425,000. The property spans 2,290 square feet, resulting in a price per square foot of $1,058. The buyer of the property is Falguni Patel.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,425,000
- Address: 92 Chambers St.
- Market: Tribeca
- Square Footage: 2,290
- Price Per Square Foot: $1,058
Barry Fishbach and Andrew Stern from Newmark represented both the buyer, Falguni Patel, and the seller in this transaction. This marks Andrew Stern's 93rd commercial deal in Tribeca and his 36th deal in Tribeca since the start of the Covid pandemic. Barry Fishbach and Andrew Stern's collaboration on this deal was greatly appreciated by both the seller and the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$129,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,615.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,495.74
Annual Debt Service$137,948.85
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