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97 Reade Street, New York C...

Emmut Properties Acquires Retail Space In TriBeCa For $3M
SOLDRetail

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

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.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

76 deals

Broker

John Young

Emmut Properties

Buyer

$87.6M

vol

7 deals

Buyer

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