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Aetna Realty Acquires Mixed-Use Property At 643-647 9th Avenue For $18 Million

Property Image
SOLD
$18,000,000
Jonathan (Jon) Hageman
Steven Rutman
Hall Oster
+ 1

New York

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Mixed-use21,894 SF
Sold 09/10/2025
the dealplayerscompscontact
Property Image
SOLD

Aetna Realty Acquires Mixed-Use Property At 643-647 9th Avenue For $18 Million

643 647 9th Avenue

See Similar Deals
Mixed-use21,894 SF
Sold 09/10/2025
Jonathan (Jon) Hageman
Steven Rutman
Hall Oster
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$822
Total Square Footage:21,894 SF
Transaction Type:Sale

The mixed-use property located at 643-647 9th Avenue in Hell's Kitchen, Manhattan, has been sold for $18,000,000. The asset comprises 24 units with a price per unit of $750,000. It offers a total square footage of 21,894, translating to a price per square foot of $822.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $18,000,000
  • Units: 24
  • Price per Unit: $750,000
  • Total Square Footage: 21,894
  • Price per Square Foot: $822
  • Buyer: Aetna Realty
  • Brokers: Steven Rutman, Hall Oster, Teddy Galligan & Jonathan (Jon) Hageman - JLL
  • Date of Transaction: 9/10/2025

This transaction involved multiple brokers representing Aetna Realty, notably including Steven Rutman, Hall Oster, Teddy Galligan, and Jonathan Hageman from JLL, showcasing the collaborative efforts in facilitating this deal.

Players

Jonathan (Jon) Hageman
JLL
Jonathan Hageman
60 deals$2.6B volume(212) 812-5995
BROKER
Hall Oster
JLL
Hall Oster
89 deals$2.2B volume
BROKER
Steven Rutman
JLL
Steven Rutman
66 deals$8.8B volume
BROKER
Teddy Galligan
JLL
Teddy Galligan
58 deals$854.9M volume
BROKER
AR
Aetna Realty
BUYER

Details

SOLD
IMAGE: Steven Rutman, Jonathan Hageman, Hall Oster & Teddy Galligan DATE: 9/10/2025 ADDRESS: 643-647 9th Avenue MARKET: Hell's Kitchen, Manhattan ASSET TYPE: Mixed-use BUYER: Aetna Realty BROKERS: Steven Rutman (@StevenRutman), Hall Oster, Teddy Galligan (@T_Galligan12) & Jonathan (Jon) Hageman - JLL (@JLL) SALE PRICE: $18,000,000 UNITS: 24 ~ PPU: $750,000 SF: 21,894 ~ PPSF: $822

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$960,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20