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48 Market Street

Ming Teng Zhang Acquires Retail Condominium At 48 Market Street For $750,000 With Seller's Rep Marcus & Millichap
SOLDRetail

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

Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Marcus & Millichap

Broker

$2.7B

vol

174 deals

Broker
Marcus & Millichap
Marcus & MillichapBrokerage

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