Sells Mixed-Use Property On Upper East Side For $20M
1356 1st Avenue
$20,000,000
$1,264/SF
Building Size
15,817 SF
Asset Type
Mixed-use
Closing
Jul 19, 2022
About this deal
AI
has sold a mixed-use property located at 1356 First Avenue in the Upper East Side. The transaction was facilitated by David Schechtman, Lipa Lieberman, and Abie Kassin from Meridian Capital Group. The property was sold for a total price of $20,000,000. It spans approximately 15,817 square feet, resulting in a price per square foot of $1,264.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $20,000,000
- Address: 1356 First Avenue
- Market: Upper East Side
- Sellers:
- Brokers: David Schechtman, Lipa Lieberman, and Abie Kassin - Meridian Capital Group
The involvement of David Schechtman, Lipa Lieberman, and Abie Kassin from Meridian Capital Group was crucial in finalizing this transaction. Their expertise and negotiation skills played a significant role in successfully closing the deal. This sale highlights the ongoing activity and value in the Upper East Side market.
Players
City of Schenectady 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93