Klosed Properties Acquires Hell's Kitchen Mixed-Use Property For $3.5M
666 9th Avenue, New York City, New York 10011, United States
$3,500,000
$437/SF
Building Size
7,995 SF
Asset Type
Mixed-use
Closing
Apr 4, 2022
About this deal
AI
The mixed-use property located at 666 9th Ave in Hell's Kitchen, Manhattan was recently sold for $3,500,000. The property spans 7,995 square feet, resulting in a price per square foot of $437. The transaction took place on April 5, 2022, and involved Klosed Properties, represented by Steven Kachanian, Adam Hajibai, and Ryan Elian, as the buyers. Angelo Vita was the seller in this deal.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,500,000
- Square Footage: 7,995
- Price per Square Foot: $437
- Date: April 5, 2022
- Address: 666 9th Ave, Hell's Kitchen, Manhattan
The sale of this property was facilitated by Bestreich Realty Group (BRG), with Logan Boenning, Justin Zeitchik, and Zachary Ziskin serving as the brokers representing both the buyer and the seller. Additionally, Jason Au from Au Consultants acted as the mortgage broker in the transaction.
On the Map
$3,500,000
$437/SF
Mixed-use
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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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93