Aetna Realty Acquires Mixed-Use Property At 643-647 9th Avenue For $18 Million
643 647 9th Avenue
$18,000,000
$822/SF
Building Size
21,894 SF
Asset Type
Mixed-use
Closing
Sep 9, 2025
AI
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
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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93