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HUBBNYC Acquires Mixed Use Building In Manhattan From Allen Park For $14.25M

Property Image
SOLD
$14,250,000

New York

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Mixed-use14,900 SF
Sold 12/21/2017
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SOLD

HUBBNYC Acquires Mixed Use Building In Manhattan From Allen Park For $14.25M

186-188 1st Avenue, Manhattan, New York, NY, USA

See Similar Deals
Mixed-use14,900 SF
Sold 12/21/2017
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$956
Total Square Footage:14,900 SF
Transaction Type:Sale

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

Michael Ferrara
Brax Realty
Michael Ferrara
28 deals$411.9M volume(646) 668-4803
BROKER
HUBB NYC
HUBB NYC
BUYER

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.“

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