Emmut Properties Acquires Retail Space In TriBeCa For $3M
97 Reade Street, New York City, New York 10013, United States
$3,000,000
$517/SF
Building Size
5,800 SF
Asset Type
Retail
Closing
Dec 16, 2021
About this deal
AI
Located in the TriBeCa neighborhood, this retail property at 97-101 Reade Street has been sold in a recent transaction. The property spans 9,200 square feet and boasts a prime location in a bustling market. Richard T. Guarino of Friedman-Roth represented the buyer, John Young of Emmut Properties, in this deal.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,000,000
- Square Footage: 9,200
- Price per Square Foot: $326
- Date: 12/16/2021
- Market: TriBeCa
This transaction was facilitated with the assistance of Richard T. Guarino from Friedman-Roth as the broker representing the buyer, John Young, of Emmut Properties. The successful sale of this retail property highlights the expertise of these industry professionals.
On the Map
$3,000,000
$517/SF
Retail
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Players
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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93