Premier Equities Acquires Mixed-use Property In Upper East Side For $43.25M
1231 3rd Avenue, New York City, New York 10029, United States
$43,250,000
$1,047/SF
Building Size
41,279 SF
Asset Type
Mixed-use
Closing
Dec 24, 2021
About this deal
AI
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
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
0.37%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93