Cushman & Wakefield Brokers Sell Chelsea Mixed-Use Property For $20.75M
108 9th Avenue
$20,750,000
$917/SF
Building Size
22,617 SF
Asset Type
Mixed-use
Closing
Nov 22, 2022
About this deal
AI
A mixed-use property located at 108-110 9th Avenue in Chelsea has been sold for a total price of $20,750,000. The property spans a total of 22,617 square feet, resulting in a price per square foot of $917. This transaction was facilitated by Bobby Carrozzo, Michael Gembecki, and Robert Burton from Cushman & Wakefield.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $20,750,000
- Square Footage: 22,617
- Price per Square Foot: $917
- Address: 108-110 9th Avenue, Chelsea
- Brokers: Bobby Carrozzo, Michael Gembecki & Robert Burton – Cushman & Wakefield
Leading the deal were Bobby Carrozzo, Michael Gembecki, and Robert Burton from Cushman & Wakefield. Their expertise and representation were instrumental in the successful completion of this transaction. It is worth noting that no additional information was provided regarding the buyer, seller, landlord, or tenant involved in this transaction.
Players
New York 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93