SMA Equities Acquires Mixed-Use Property In Manhattan For $13M
1220 Lexington Ave, New York, NY 10028, USA
Building Size
8,484 SF
Asset Type
Mixed-use
Closing
Dec 14, 2017
About this deal
AI
The mixed-use property located at 1220-24 Lexington Avenue in Manhattan, New York has been sold for $13,000,000. The transaction involved the seller, Silber Estate, and the buyer, SMA Equities. The property is a combination of residential and commercial units, offering a diverse range of uses.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $13,000,000
- Address: 1220-24 Lexington Avenue, New York
- Market: Manhattan
Eric Karmitz from Avison Young @GothamSales represented the seller, Silber Estate, in this transaction. Avison Young is a reputable real estate agency known for their expertise in the New York market. The buyer, SMA Equities, engaged the services of Eric Karmitz as their broker representative.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93