Emmut Properties Acquires Retail Space In TriBeCa For $3M
SOLD
$3,000,000
+ 1
New York
See Similar DealsRetail5,800 SF
Sold 12/16/2021
SOLD
Emmut Properties Acquires Retail Space In TriBeCa For $3M
97 Reade Street, New York City, New York 10013, United States
See Similar DealsRetail5,800 SF
Sold 12/16/2021
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$517
Total Square Footage:5,800 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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