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666 9th Avenue, New York Ci...

Klosed Properties Acquires Hell's Kitchen Mixed-Use Property For $3.5M
SOLDMixed-use

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

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.

Players

Justin Zeitchik

Investment Property Realty Group (IPRG)

Broker

$265.9M

vol

53 deals

Broker
Adam Hajibai

Adam Hajibai

Klosed Properties

Buyer

$76.1M

vol

21 deals

Buyer
Klosed Properties
Klosed PropertiesBuyer

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