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Mixed Use

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2nd Avenue

Eric Karmitz And Alexandra Marolda Of Avison Young Facilitate Sale Of Mixed-Use Asset For $4.525M
SOLDMixed-use

Eric Karmitz And Alexandra Marolda Of Avison Young Facilitate Sale Of Mixed-Use Asset For $4.525M

2nd Avenue

$4,525,000

$1,205/SF

Building Size

3,755 SF

Asset Type

Mixed-use

Closing

Jun 3, 2025

AI

The mixed-use asset located at 1390 1/2 Second Avenue in the Lenox Hill market was sold for $4,525,000. The property encompasses a total square footage of 3,755, which equates to a price per square foot of $1,205.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $4,525,000
  • Square Footage: 3,755
  • Price Per Square Foot: $1,205
  • Address: 1390 1/2 Second Avenue
  • Market: Lenox Hill

The brokers representing the transaction were Eric Karmitz, Alexandra Marolda, and Lea Voytovich from Avison Young, contributing their expertise to secure this deal.

Players

Eric Karmitz

Avison Young

Broker

$767.7M

vol

36 deals

Broker
Avison Young
Avison YoungBrokerage

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.51%

Cash-on-Cash

-1.00%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93