SL Property Group Acquire Mixed-Use Property At 40 East 23rd Street For $7.375M
40 East 23rd Street
$7,350,000
$805/SF
Building Size
9,126 SF
Asset Type
Mixed-use
Closing
Apr 16, 2026
About this deal
AI
The property asset involved in this transaction is a mixed-use building located at 40 East 23rd Street in the Flatiron District. The sale price for the property was $7,375,000, with a total square footage of 9,126 and a price per square foot of $808.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $7,375,000
- Address: 40 East 23rd Street
- Market: Flatiron District
- Square Footage: 9,126
- Price per Square Foot: $808
- Buyer: SL Property Group
- Brokers: Richard Velotta, Daniel (Danny) Handweiler & Gabi Grob - Raven Property Advisors
SL Property Group is under contract on several other properties in Manhattan and is actively acquiring additional value-add and development/conversion properties, as well as Core+ assets, within the price range of $5-$100M in prime areas of Manhattan and Brooklyn.
On the Map
$7,350,000
$805/SF
Mixed-use
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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
2.16%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93