SOLD
HUBBNYC Acquires Mixed Use Building In Manhattan From Allen Park For $14.25M
186-188 1st Avenue
Mixed-use
14,900 SF
14,900 SF
Sold 1 year ago
Summary
Sale
NEW YORK
Mixed-use
14,900 sqft
The mixed-use building located at 186-188 1st Avenue in New York City, Manhattan has been sold in a closed transaction. The property consists of 16 apartments and 3 retail spaces, spanning a total of 14,900 square feet. The transaction took place on December 21, 2017, with a sale price of $14,250,000. The price per square foot for this property is $956.
Summary of transaction details:
- Property Type: Mixed Use Building
- Transaction Amount: $14,250,000
- Address: 186-188 1st Avenue, New York, Manhattan
- Market: Manhattan
Allen Park acted as the seller in this transaction, while HUBBNYC was the buyer. The deal was facilitated by Michael Ferrara from Brax Realty LLC, who represented both the buyer and the seller. Ferrara mentioned that the seller had been managing the buildings since 1980 and decided to cash out and retire. The seller's requirement for a year-end closing was met, and HUBBNYC moved quickly to sign a hard contract and close the transaction with all cash in just two weeks.
Players
All
2
Agents
1
Agencies
1
Details
SOLD
IMAGE: 186-188 1st Avenue & Brax Realty’s Michael Ferrara @bigmikehere
DATE: 12/21/17
ADDRESS: 186-188 1st Avenue
CITY: New York
MARKET: Manhattan
ASSET TYPE: Mixed Use Building
SELLER: Allen Park
BUYER: HUBBNYC
BROKER: Michael Ferrara, Brax Realty LLC (Represented both Buyer & Seller)
PRICE: $14,250,000
SF: 14,900 sf ~ PPSF: $956
UNITS: 16 Apartments & 3 Retail Spaces|
NOTE: Ferrara said: “The seller required a year-end closing. HUBBNYC moved quickly to sign a hard contract and close all cash in two weeks. The seller had been managing his buildings since 1980 and was at an age where he wanted to cash out and retire.“View on map
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Address186-188 1st Avenue
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