Massuci Family Sells Mixed-use Property In Midtown West For $10M
729-731 9th Avenue, New York City, New York 10019, United States
$10,000,000
$431/SF
Building Size
23,203 SF
Asset Type
Mixed-use
Closing
May 9, 2022
About this deal
AI
The mixed-use property located at 729-731 Ninth Avenue & 404 West 50th Street in Midtown West, Manhattan, has been sold. The transaction took place on 05/10/2022 and was facilitated by brokers Joe Koicim and Logan Markley from Marcus & Millichap. The property was sold by the Massuci Family to an undisclosed buyer for a price of $10,000,000. The property spans a total area of 23,203 square feet, resulting in a price per square foot of $430.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $10,000,000
- Date: 05/10/2022
- Address: 729-731 Ninth Avenue & 404 West 50th Street
- Market: Midtown West, Manhattan
- Brokers: Joe Koicim & Logan Markley - Marcus & Millichap
- Size: 23,203 square feet
- Price per Square Foot: $430
The identity of the buyer remains undisclosed. However, the seller, Massuci Family, successfully concluded the transaction with the assistance of their brokers, Joe Koicim and Logan Markley from Marcus & Millichap.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93