Areit Re Holder Sells Mixed-Use Property On 7th Avenue In New York City For $21.5M With Meridian Capital Group As Brokers
SOLD
$21,500,000
+ 1
New York
See Similar DealsMixed-use
Sold 12/22/2023
SOLD
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
See Similar DealsMixed-use
Sold 12/22/2023
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,146,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$76,384.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$101,920.97
Annual Debt Service$1,223,051.63
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