Updated Oct 29, 2024
Torkian Group Acquires Mixed-Use Property In Chelsea, Manhattan For $7.2M
304 Eighth Avenue
$7,200,000
$1,131/SF
Building Size
6,361 SF
Asset Type
Mixed-use
Closing
Feb 15, 2023
About this deal
AI
A mixed-use property located at 304 Eighth Avenue in Chelsea, Manhattan has been sold for a price of $7,200,000. The property spans an area of 6,361 square feet and the price per square foot is $1,132. The building has a total of 14,851 buildable square feet, resulting in a price per buildable square foot of $485. The transaction took place on February 15, 2023.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $7,200,000
- Address: 304 Eighth Avenue, Chelsea, Manhattan
- Market: Chelsea, Manhattan
The buyer of the property is the Torkian Group, represented by Hersel Torkian. The sellers are Nicholas Stroghilas, Robert Macropoulos, Helen Macropoulos, and John Macropoulos. The transaction was facilitated by Bijan Oheb. The Hersel Torkian Group has acquired the property in this deal.
On the Map
$7,200,000
$1,131/SF
Mixed-use
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Players
Sydney Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93