Sabet Group Acquires Mixed-Use Property From Marshall Associates For $13M In New York
224 Avenue B
$13,000,000
$856/SF
Building Size
15,174 SF
Asset Type
Mixed-use
Closing
Mar 24, 2025
AI
The mixed-use property located at 224 Avenue B in New York was sold for $13,000,000.00. The asset spans a total area of 15,174 square feet, reflecting its substantial size and value in the competitive market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $13,000,000.00
- Address: 224 Avenue B
- Market: New York
- Seller: Marshall Associates
- Buyer: Sabet Group
- Seller's Representatives: Jonathan Buerger (B6 Real Estate Advisors), Paul Massey (B6 Real Estate Advisors)
This transaction was facilitated by the representatives from B6 Real Estate Advisors, ensuring a smooth transition between the parties involved. The seller, Marshall Associates, engaged in this deal with Sabet Group as the buyer, marking a significant movement in the property market.
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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93