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1124 3rd Avenue

Duc Hoang Acquires Mixed-Use Property On Upper Eastside For $7.9M
SOLDMixed-use

Duc Hoang Acquires Mixed-Use Property On Upper Eastside For $7.9M

1124 3rd Avenue

$7,900,000

$940/SF

Building Size

8,400 SF

Asset Type

Mixed-use

Closing

Nov 4, 2022

AI

1124 & 1126 Third Avenue, located in the Upper Eastside market, has been sold in a mixed-use transaction. The property spans 8,400 square feet and was sold for a total price of $7,900,000. The sale price per square foot was $940.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Amount: $7,900,000
  • Square Footage: 8,400
  • Price per Square Foot: $940
  • Address: 1124 & 1126 Third Avenue
  • Market: Upper Eastside

The transaction involved several key individuals and companies. Duc Hoang was the buyer, and the Stadler Family was the seller. The broker representing the deal was George Niblock from Friedman-Roth Realty Services LLC.

Players

George Niblock

Friedman-Roth Realty

Broker

$84.4M

vol

11 deals

Broker

Duc Hoang

Sapphire Acquisitions

Buyer

$23.5M

vol

4 deals

Buyer

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

2.01%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93