Avison Young Brokers Sell Mixed-Use Property In New York City For $15M
224 8th Ave New York, NY 10011, USA
$15,000,000
$473/SF
Building Size
31,705 SF
Asset Type
Mixed-use
Closing
Jun 28, 2023
AI
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:
- Property Type: Mixed-Use
- Transaction Amount: $15,000,000
- Property Size: 31,705 square feet
- Price per Square Foot: $473
- Address: 224-228 8th Avenue, New York City
- Seller: Sonia Jaye
- Brokers: Brandon Polakoff, David Shalom, Ryan McGuirl, Noah Kossoff, and Kyle Sabath from Avison Young
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
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93