Eunate Real Estate NY Acquires Retail Condo On Fifth Ave For $26.5M

212 Fifth Ave., a retail condo located in the NoMad market, was recently sold for a total price of $26,500,000. The property spans across 4,620 square feet, resulting in a price per square foot of $5,736. The sale achieved a capitalization rate of 4.6%. The transaction took place on January 16, 2019, and was facilitated by Madison Equities and Thor Equities as the sellers, and Eunate Real Estate NY - Joaquin Garcia-Quiros Rodriguez as the buyer. Craig Waggner and John Ciraulo from CushWake represented the sellers, while Christine Traina from Douglas Elliman acted as the buyer's representative. At the time of the sale, the retail condo was fully occupied with three recently signed long-term leases ranging from 10 to 15 years.

Summary of transation details

• Property Type: Retail Condo
• Transaction Amount: $26,500,000
• Address: 212 Fifth Ave.
• Market: NoMad
• Square Footage: 4,620
• Price per Square Foot: $5,736
• Capitalization Rate: 4.6%

The sellers, Madison Equities and Thor Equities, entrusted the representation of their interests to Craig Waggner and John Ciraulo from CushWake. On the other hand, the buyer, Eunate Real Estate NY - Joaquin Garcia-Quiros Rodriguez, was guided by Christine Traina from Douglas Elliman. This transaction marked a significant milestone for 212 Fifth Ave., which boasted full occupancy at the time of the sale due to the recent signing of three long-term leases lasting between 10 and 15 years.