The Sullivan Family Acquires Mixed-Use Property From Lee Odell In Manhattan For $7.075M
149 1st Avenue
$7,250,000
$942/SF
Building Size
7,693 SF
Asset Type
Mixed-use
Closing
Feb 10, 2026
About this deal
AI
The property asset involved in this transaction is a mixed-use building located at 149 1st Avenue in Manhattan. The sale was completed for a price of $7,075,000, which encompasses 26 units consisting of 2 commercial and 24 residential spaces. The total square footage of the asset is 7,693, with a price per unit of $272,115 and a price per square foot of $920.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $7,075,000
- Units: 26
- Price Per Unit: $272,115
- Square Footage: 7,693
- Price Per Square Foot: $920
- Buyer: The Sullivan Family
- Seller: Lee Odell
- Broker: Jay Bernstein - Besen Partners
Key individuals in this transaction include The Sullivan Family as the buyer and Lee Odell as the seller, with representation provided by broker Jay Bernstein of Besen Partners throughout the deal.
On the Map
$7,250,000
$942/SF
Mixed-use
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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
2.19%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93