W Brothers, The Altmark Group, And The Blenden Group Acquire Mixed-Use Building On Madison Ave For $37M
SOLD
$37,000,000
New York
See Similar DealsMixed-use6,024 SF
Sold 01/22/2018
SOLD
W Brothers, The Altmark Group, And The Blenden Group Acquire Mixed-Use Building On Madison Ave For $37M
766 Madison Ave, New York, NY 10065, USA
See Similar DealsMixed-use6,024 SF
Sold 01/22/2018
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$6,142
Total Square Footage:6,024 SF
Transaction Type:Sale
The mixed-use property located at 766 Madison Ave in Manhattan, New York, has been sold for a total price of $37,000,000. The property spans 6,024 square feet with a total buildable square footage of 16,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $37,000,000
- Address: 766 Madison Ave, New York, Manhattan
The seller of the property is James Rice, while the buyer is W Brothers in a joint venture with The Altmark Group and The Blenden Group. The deal was facilitated by Jeremy Nazarian and Itan Rahmani of Venture Capital Properties.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,973,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$131,453.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$175,398.88
Annual Debt Service$2,104,786.52
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