Klosed Properties Acquires Mixed-Use Property In Manhattan For $1.5M

The property at 2038 5th Avenue in New York, located in the Manhattan market, was sold in a closed transaction on January 17, 2018. The mixed-use asset consists of 7 residential units and 1 retail unit, spanning a total of 6,000 square feet. The transaction price was $1,500,000, resulting in a price per square foot of $250.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $1,500,000
• Square Footage: 6,000 sf
• Price per Square Foot: $250
• Units: 7 residential and 1 retail unit
• Seller: Concord Management – Michael Rooney
• Buyer: Klosed Properties – Steven Kachanian

In this transaction, Concord Management, represented by Michael Rooney, sold the property to Klosed Properties, represented by Steven Kachanian.