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115 7th Avenue South

Areit Re Holder Sells Mixed-Use Property On 7th Avenue In New York City For $21.5M With Meridian Capital Group As Brokers
SOLDMixed-use

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

Brian Gladstone

Meridian Capital Group

Broker

$396M

vol

13 deals

Broker

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