Witnick Real Estate Partners Acquires Mixed-Use Asset In Midtown West For $7.05M
829 9th Avenue, New York City, New York 10011, United States
$7,050,000
$698/SF
Building Size
10,100 SF
Asset Type
Mixed-use
Closing
Jul 7, 2022
About this deal
AI
Located in Midtown West, the mixed-use property at 829 9th Ave. has recently been sold in a closed transaction. The property offers a total of 10,100 square feet and was sold for a price of $7,050,000, resulting in a price per square foot of $698. The transaction took place on July 8, 2022.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7,050,000
- Market: Midtown West
- Address: 829 9th Ave.
The buyer of the property is Witnick Real Estate Partners. The seller's representatives in the deal were Chris Brodhead and Nikola Cosic from B6 Real Estate Advisors. The property had an asking price of $7,250,000, and it was ultimately sold for $7,050,000.
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
2.25%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93