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Corum Asset Management Acquires Condo At 591 3rd Avenue From CB Developers And Scott Shnay For $6.2M

Property Image
SOLD
$6,200,000

New York

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Condo5,867 SF
Sold 03/20/2026
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Property Image
SOLD

Corum Asset Management Acquires Condo At 591 3rd Avenue From CB Developers And Scott Shnay For $6.2M

591 3rd Avenue

See Similar Deals
Condo5,867 SF
Sold 03/20/2026
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Condo
Price Per Square Foot:$1,056
Total Square Footage:5,867 SF
Transaction Type:Sale

Corum Asset Management acquired a retail condo located at 591 3rd Avenue in the Murray Hill neighborhood of Manhattan. The transaction was completed at a sale price of $6,200,000. The property encompasses a total area of 5,867 square feet, resulting in a price per square foot of approximately $1,057.

Summary of transation details:

  • Property Type: Condo
  • Transaction Amount: $6,200,000
  • Square Footage: 5,867
  • Address: 591 3rd Avenue
  • Market: Murray Hill, Manhattan
  • Seller: CB Developers & Scott Shnay - SK Development
  • Buyer: Corum Asset Management
  • Price Per Square Foot: $1,057
  • Closing Date: March 20, 2026

Scott Shnay of SK Development represented the seller in this transaction, working alongside CB Developers. The deal reflects a strategic investment in a prime retail location within a competitive market.

Players

CM
Corum Asset Management
BUYER
Scott Shnay
SK Development
Scott Shnay
9 deals$113M volume
SELLER
CD
CB Developers
SELLER

Details

SOLD
IMAGE: Scott Shnay DATE: 03/20/2026 ADDRESS: 591 3rd Avenue MARKET: Murray Hill, Manhattan ASSET TYPE: Condo BUYER: Corum Asset Management SELLER: CB Developers & Scott Shnay - SK Development SALE PRICE: $6,200,000 SF: 5,867 ~ PPSF: $1,057 NOTE: Corum Asset Management bought the 5,867-square-foot retail condo at 591 Third Avenue in Murray Hill, Manhattan, from CB Developers and SK Development for $6.2 million, or $1,065 per square foot, in a deal closed March 20, 2026.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$330,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,027.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,391.16
Annual Debt Service$352,693.96