McSam Hotel Group paid $19M to 62-64 Mulberry Street Corp.

McSam Hotel Group through the entity Chtn Hotel LLC paid 62-64 Mulberry Street Corp. $18.8 million for 1 parcel, including the tax class garage with two or more stories (G1) at 62 Mulberry Street in Chinatown. The deal closed on July 24, 2019 and was recorded on July 31, 2019. The parcel(s) have total development potential of 34,800 square feet.
The average sale price per square foot is $539.
The estimated cap rate is 3.7%
The last time the property sold was July 26, 2004, for $1,906,740.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $75,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link