James Yenicag Acquires Retail Condo In Midtown Manhattan For $1.5M
SOLD
$1,500,000
New York
See Similar DealsMixed-use1,900 SF
Sold 06/24/2020
SOLD
James Yenicag Acquires Retail Condo In Midtown Manhattan For $1.5M
5 East 44th Street, New York City, New York 10017, United States
See Similar DealsMixed-use1,900 SF
Sold 06/24/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$789
Total Square Footage:1,900 SF
Transaction Type:Sale
A retail condo located at 5 East 44th Street in Midtown has been sold in a recent transaction. The property, spanning 1,900 square feet, was sold for a price of $1,500,000. This translates to a price per square foot of $789. The transaction took place on June 24, 2021.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $1,500,000
- Address: 5 East 44th Street
- Market: Midtown
The buyer of the retail condo is James Yenicag. Representing the buyer in this transaction was Brent Glodowski from Avison Young. On the other hand, the seller, Michael Kandov, was represented by Will Conrad and Damani Strasner from Cushman & Wakefield. The asking price for the property was $2,495,000, indicating a successful negotiation for the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18
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