Amy Kit-Ming Mak pays $5.5M to Anton Mayer for mixed-use building in Nolita
Amy Kit-Ming Mak through the entity Bowery Land, LLC paid $5.5 million to Anton Mayer through the entity F&R Realty Associates Inc. for two-unit mixed-use building (K4) at 5 Prince Street in Nolita, Manhattan.
The deal closed on September 22, 2021 and was recorded on October 1, 2021.
The property has 3,500 square feet of built space and 2,488 square feet of additional air rights for a total buildable of 5,985 square feet according to PincusCo analysis of city data. The sale price per built square foot is $1,565 and the price per buildable square foot is $915 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on April 28, 2016, for $12.3 million.
The signatory for Anton Mayer was Anton Mayer. The signatory for Amy Kit-Ming Mak was Amy Kit-Ming Mak.
The contract date was June 4, 2021. Amy Kit-Ming Mak is president of Ng Fook Realty and also owns 41 Canal Street, 36 Mulberry Sreeet and 6920 Ft. Hamilton Parkway.
Within a 400-foot radius of 5 Prince Street, PincusCo identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, two were for major renovation including a certificate of occupancy change. They were two permits with a total initial cost of $3.8 million. The most recent of these two items was the permit on October 9, 2019 for a 19,993-square-foot B building with no residential units at 208 Elizabeth Street.
Of those seven items, two were sales above $5 million totaling $16.9 million. The most recent of the two was Adam Semler which bought the 11,850-square-foot, 21-unit rental (C7) on 196 Elizabeth Street for $8.9 million from David Moore on April 29, 2021.
Of those seven items, three were loans above $5 million totaling $17.3 million. The most recent of the three was Adam Semler which borrowed $6.3 million from Signature Bank secured by the 11,850-square-foot, 21-unit rental (C7) on 196 Elizabeth Street on September 28, 2021.
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