Anbau Enterprises Acquires Mixed-Use Property On 1st Avenue In Manhattan For $16.2M

Located at 53-55 1st Avenue in Manhattan, this mixed-use property recently changed hands in a closed transaction. The property, spanning an area of 18,240 square feet, was sold for a price of $16,200,000, resulting in a price per square foot of $888. The transaction recorded a capitalization rate of 4.33%.

Summary of transaction details

• Property Type: Mixed-Use
• Transaction Amount: $16,200,000
• Address: 53-55 1st Avenue
• Market: Manhattan

The seller of the property was 53-55 First Avenue Realty, LLC, while the buyer was Anbau Enterprises. The transaction was facilitated by the brokerage firm Cushman and Wakefield, with James Nelson, Bob Knakal, Brandon Polakoff, and Patrick Yannotta representing the parties involved.