Terra Developers Acquires Mixed-Use Property At 500 Columbus Avenue For $28M With BKREA As Seller's Rep

The property asset involved in the transaction is a mixed-use building located at 500 Columbus Avenue in the Upper West Side market. The total sale price was $28,000,000, and the property comprises 3 commercial units and 12 multifamily units. The building has a total square footage of 35,258, resulting in a price per square foot of $794 and a price per unit of $2,333,333.

Summary of transation details:

• Property Type: Mixed-use
• Transaction Amount: $28,000,000
• Address: 500 Columbus Avenue
• Market: Upper West Side
• Units: 15
• Square Footage: 35,258
• Price per Square Foot: $794
• Price per Unit: $2,333,333
• Buyer: Terra Developers
• Seller: Lucia Nuzzi Meyer
• Seller's Rep: Jake Hulsh, Robert Knakal, Jas Saini & Nick Tuleu - BKREA

Jake Hulsh, Robert Knakal, Jas Saini, and Nick Tuleu of BK Real Estate Advisors facilitated the sale, representing Lucia Nuzzi Meyer. The property is considered for a potential conversion from residential rentals to condominiums, which includes an enlargement component.