Areit Re Holder Sells Mixed-Use Property On 7th Avenue In New York City For $21.5M With Meridian Capital Group As Brokers
115 7th Avenue South
$21,500,000
Building Size
—
Asset Type
Mixed-use
Closing
Dec 22, 2023
AI
115 7th Avenue, a mixed-use property in New York City, was recently sold for $21,500,000. The transaction was handled by the Meridian Capital Group, with brokers including David Schechtman, Abie Kassin, Lipa Lieberman, and Brian Gladstone representing the seller, Areit Re Holder.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $21,500,000
- Address: 115 7th Avenue, New York City
- Market: New York City
The sale of 115 7th Avenue showcases the expertise and negotiation skills of the Meridian Capital Group. With a strong buyer-seller representation, including David Schechtman and his team, this transaction emphasizes the robust real estate market in New York City.
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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93