Glick Property Group Acquires Mixed Use Properties On Upper West Side For $33M
588 Amsterdam Ave, New York, NY 10024, USA
$33,000,000
$733/SF
Building Size
45,000 SF
Asset Type
Mixed-use
Closing
Aug 14, 2018
About this deal
AI
The mixed-use property located at 588-594 Amsterdam Avenue in New York's Upper West Side has been sold in a closed transaction. The property consists of four properties and spans approximately 45,000 square feet. The buyer, Glick Property Group – GPG, acquired the property from Grey Seal Realty for a total price of $33,000,000. The transaction was brokered by GPG.
Summary of transation details
- Property Type: Mixed Use
- Transaction Amount: $33,000,000
- Existing Square Footage: 45,000
- Building Square Footage: 100,000
- Price per Square Foot: $330
- Address: 588-594 Amsterdam Avenue, New York
- Market: Upper West Side
- Streets: West 89th & Amsterdam Ave
The buyer, Glick Property Group – GPG, successfully concluded the acquisition of the mixed-use property located at 588-594 Amsterdam Avenue. Grey Seal Realty represented the seller in this transaction. The property, consisting of four properties, spans approximately 45,000 square feet. The deal was sealed for a total price of $33,000,000.
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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93