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
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