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1295 Madison Avenue

Nelson Braff & Keith Kantrowitz Acquire Retail Condo In Carnegie Hill For $11M
SOLDCondo

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

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.

Players

A
AdellCoSeller

Avenue Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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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