facebook
Traded Co logo
Submit

Premier Equities Acquires Mixed-use Property In Upper East Side For $43.25M

Property Image
SOLD
$43,250,000

New York

See Similar Deals
Mixed-use41,279 SF
Sold 12/24/2021
the dealplayerscompscontact
Property Image
SOLD

Premier Equities Acquires Mixed-use Property In Upper East Side For $43.25M

1231 3rd Avenue, New York City, New York 10029, United States

See Similar Deals
Mixed-use41,279 SF
Sold 12/24/2021
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,047
Total Square Footage:41,279 SF
Transaction Type:Sale

The mixed-use property located at 1231 3rd Avenue in the Upper East Side was recently sold in a closed transaction on December 24, 2021. The property spans 41,279 square feet, with a price per square foot of $1,047. The total sale price amounted to $43,250,000. Premier Equities acquired the property from the Chetrit Group.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $43,250,000
  • Address: 1231 3rd Avenue
  • Market: Upper East Side
  • Buyer: Premier Equities (@PremierEquities)
  • Seller: Chetrit Group
  • Broker: Henry Bodek - Galaxy Capital
  • Square Footage: 41,279
  • Price Per Square Foot: $1,047

Hailing from Galaxy Capital, Henry Bodek represented Premier Equities in the deal, facilitating the acquisition of the property. This recent transaction in the Upper East Side showcases the vibrant real estate market in the area.

Players

Henry Bodek
Galaxy Capital
Henry Bodek
69 deals$12.3B volume
BROKER
Premier Equities
Premier Equities
BUYER
Chetrit Group
Chetrit Group
SELLER
Chetrit Group
Chetrit Group
LENDER

Details

SOLD
IMAGE: 12/24/2021 ADDRESS: 1231 3rd Avenue MARKET: Upper East Side ASSET TYPE: Mixed-use BUYER: @PremierEquities SELLER: Chetrit Group BROKER: Henry Bodek - Galaxy Capital SALE PRICE: $43,250,000 SF: 41,279 ~ PPSF: $1,047

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,306,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$153,658.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$205,027.07
Annual Debt Service$2,460,324.78