Ming Teng Zhang Acquires Retail Condominium At 48 Market Street For $750,000 With Seller's Rep Marcus & Millichap
48 Market Street
$750,000
$246/SF
Building Size
3,040 SF
Asset Type
Retail
Closing
Dec 9, 2025
AI
This transaction involves a retail asset located at 48 Market Street in the Two Bridges market area. The property is a two-story commercial condominium that spans 3,044 square feet and was delivered vacant at the time of closing. The sale price for this property was $750,000, translating to a price per square foot of $246.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $750,000
- Address: 48 Market Street
- Market: Two Bridges
- Asset Size: 3,044 SF
- Price Per Square Foot: $246
- Buyer: Ming Teng Zhang
- Seller: Mee Pan
- Seller's Rep: Scott Plasky, Joseph Koicim & Chase Friedman - Marcus & Millichap
The buyer, Ming Teng Zhang, intends to use the property for their operations. The seller's representatives include Scott Plasky, Joseph Koicim, and Chase Friedman from Marcus & Millichap, who facilitated the transaction.
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
21.15%
Cash-on-Cash
-6.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93