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224 8th Ave New York, NY 10...

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

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:

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

Avison Young

Broker

$552.8M

vol

38 deals

Broker

Sonia Jaye

Seller

$39.8M

vol

3 deals

Seller

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