Nelson Braff & Keith Kantrowitz Acquire Retail Condo In Carnegie Hill For $11M
1295 Madison Avenue
$11,000,000
$3,637/SF
Building Size
3,024 SF
Asset Type
Condo
Closing
Nov 9, 2023
About this deal
AI
Nelson Braff and Keith Kantrowitz, represented by MRK Jacksonville, LLC, have acquired the larger of two retail condominium units at 1295 Madison Avenue in Carnegie Hill, Manhattan, for $11 million. The property is a condo located at 1295 Madison Avenue in Carnegie Hill, Manhattan. It spans approximately 3,024 square feet with a price per square foot of $3,638.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $11,000,000
- Square Footage: 3,024
- Price per Square Foot: $3,638
- Address: 1295 Madison Avenue
- Market: Carnegie Hill, Manhattan
The buyers, Nelson Braff and Keith Kantrowitz, were represented by MRK Jacksonville, LLC. They purchased the retail condominium unit from Matthew G. Adell, who is the seller representing Adellco.
On the Map
$11,000,000
$3,637/SF
Condo
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93