Jared Pinchasick Of JAM RE Partners Sells 1672 Third Avenue For $10.85 Million

The property involved in this transaction is a mixed-use asset located at 1672 Third Avenue in the Carnegie Hill neighborhood. It comprises 1 commercial unit and 16 residential units. The sale price for the property was $10,850,000, which translates to an average price per unit of $638,235. The total square footage of the property is 10,845, resulting in a price per square foot of $1,000.

Summary of transaction details:

• Property Type: Mixed-use (1 Commercial & 16 Residential)
• Transaction Amount: $10,850,000
• Units: 17
• Price per Unit: $638,235
• Square Footage: 10,845
• Price per Square Foot: $1,000
• Seller: Jared Pinchasick (JPinchasick) - JAM RE Partners
• Broker Representatives: Brett Weisblum & Andrew Berry - Cushman & Wakefield

Cushman and Wakefield's Brett Weisblum and Andrew Berry exclusively represented the sale. The property recently underwent substantial rehabilitation and received a final order of completion from DHCR, determining that it is permanently exempt from rent regulation.