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643 647 9th Avenue

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

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

Jonathan Hageman

JLL

Broker

$2.6B

vol

60 deals

Broker
AR
Aetna RealtyBuyer

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