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Avison Young Brokers Sell Mixed-Use Property In New York City For $15M

Property Image
SOLD
$15,000,000
Noah Kossoff
Brandon Polakoff
+ 3

New York

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Mixed-use31,705 SF
Sold 06/28/2023
the dealplayerscompscontact
Property Image
SOLD

Avison Young Brokers Sell Mixed-Use Property In New York City For $15M

224 8th Ave New York, NY 10011, USA

See Similar Deals
Mixed-use31,705 SF
Sold 06/28/2023
Noah Kossoff
Brandon Polakoff
+ 3
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$473
Total Square Footage:31,705 SF
Transaction Type:Sale

The mixed-use property located at 224-228 8th Avenue in New York City has been sold for a transaction amount of $15,000,000. The property spans across 31,705 square feet and has been sold at a price per square foot of $473.

Summary of transaction details:

Avison Young's brokers Brandon Polakoff, David Shalom, Ryan McGuirl, Noah Kossoff, and Kyle Sabath represented the parties involved in this transaction. They played a pivotal role in facilitating the sale of the mixed-use property at 224-228 8th Avenue in New York City. Their expertise and negotiation skills contributed to the successful conclusion of this deal.

Players

David Shalom
38 deals$552.8M volume(212) 230-5948
BROKER

Noah Kossoff
Avison Young
35 deals$385.1M volume(917) 880-1475
BROKER

Brandon Polakoff
Avison Young
123 deals$1.8B volume
BROKER

Ryan McGuirl
Avison Young
60 deals$804.5M volume(212) 858-9361
BROKER

Kyle Sabath
Avison Young
17 deals$200.5M volume(212) 729-6279
BROKER

Details

SOLD
IMAGE: Brandon Polakoff, David Shalom, Ryan McGuirl, Noah Kossoff & Kyle Sabath DATE: 06/28/2023 ADDRESS: 224-228 8th Avenue MARKET: New York City ASSET TYPE: Mixed-Use SELLER: Sonia Jaye BROKERS: Brandon Polakoff (@BfPolly), David Shalom (@D_Shal), Ryan McGuirl (@RMac_NYC), Noah Kossoff (@Noah_Kossoff) & Kyle Sabath (@KyleSabath) - Avison Young (@Avison_Young_Global) SALE PRICE: $15,000,000 SF: 31,705 ~ PPSF: $473

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83