$7.3M Upper East Side Mixed-Use Property Sold By Buyer Nader Ohebshalom And Brokers Jack Zalta, Aaron Jungreis, Matty Nightingale
SOLD
$7,300,000
+ 1
New York
See Similar DealsMixed-use209,300 SF
Sold 12/16/2019
SOLD
$7.3M Upper East Side Mixed-Use Property Sold By Buyer Nader Ohebshalom And Brokers Jack Zalta, Aaron Jungreis, Matty Nightingale
1341 2nd Ave, New York, NY 10021, USA
See Similar DealsMixed-use209,300 SF
Sold 12/16/2019
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$34
Total Square Footage:209,300 SF
Transaction Type:Sale
A mixed-use property located at 1341 2nd Avenue in the Upper East Side of Manhattan has been sold for a total of $7,300,000. The property spans a total of 17,940 square feet, with 7,475 square feet allocated to retail space and an additional 10,465 square feet of air rights. The sale price per square foot was calculated to be $406. This property consists of 8 residential units and includes a store.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7,300,000
- Address: 1341 2nd Avenue
- Market: Upper East Side
- Square Footage: 17,940 (Retail: 7,475 sqft, Air Rights: 10,465 sqft)
- Units: 8 residential units + 1 store
The seller of this property was Dennis Horowitz, and the buyer was Nader Ohebshalom. The transaction was facilitated by a team from Rose Wood Realty Group NY, including brokers Jack Zalta, Aaron Jungreis, and Matty Nightingale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$389,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,935.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,605.72
Annual Debt Service$415,268.69
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