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Aetna Realty Acquires Hell's Kitchen Retail Condo On Ninth Ave For $3M

Property Image
SOLD
$3,000,000
Charlie Gravina
Andrew Berry
James Famularo

New York

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Mixed-use1,850 SF
Sold 10/06/2021
the dealplayerscompscontact
Property Image
SOLD

Aetna Realty Acquires Hell's Kitchen Retail Condo On Ninth Ave For $3M

805 9th Avenue, Manhattan, New York, NY, USA

See Similar Deals
Mixed-use1,850 SF
Sold 10/06/2021
Charlie Gravina
Andrew Berry
James Famularo
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,621
Total Square Footage:1,850 SF
Transaction Type:Sale

A retail condo located at 805 Ninth Ave in Hell's Kitchen was sold on October 6, 2021. The property, spanning 1,850 square feet, was sold for $3,000,000, resulting in a price per square foot of $1,622.

Summary of Transaction Details:

The property, a retail condo, was purchased by Aetna Realty from seller Asher Dardashian. The deal was facilitated by James Famularo from Meridian Retail Leasing, representing the buyer, and Andrew Berry and Charlie Gravina from Cushman & Wakefield, representing the seller.

Players

Charlie Gravina
Cushman & Wakefield
Charlie Gravina
21 deals$280.6M volume
BROKER
Andrew Berry
Cushman & Wakefield
Andrew Berry
33 deals$410.9M volume
BROKER
James Famularo
Meridian Capital Group
James Famularo
357 deals$11.4M volume(212) 468-5960
BROKER
AR
Aetna Realty
BUYER

Details

SOLD
IMAGE: Andrew Berry, James Famularo & Charlie Gravina DATE: 10/06/2021 ADDRESS: 805 Ninth Ave. MARKET: Hell's Kitchen ASSET TYPE: Retail Condo BUYER: Aetna Realty SELLER: Asher Dardashian BUYER'S REP: James Famularo (@JamesFamularo) - @Meridian_Retail_Leasing SELLER'S REP: Andrew Berry (@ATBerry3) & Charlie Gravina (@Chuckee_G) - Cushman & Wakefield (@CushWake) SALE PRICE: $3,000,000 SF: 1,850 ~ PPSF: $1,622

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$160,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37