Midwood Investment & Development Acquires Mixed-Use Property On Madison Ave For $17M
SOLD
$17,000,000
New York
See Similar DealsMixed-use8,505 SF
Sold 01/28/2022
SOLD
Midwood Investment & Development Acquires Mixed-Use Property On Madison Ave For $17M
829 Madison Avenue, New York City, New York 10021, United States
See Similar DealsMixed-use8,505 SF
Sold 01/28/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,998
Total Square Footage:8,505 SF
Transaction Type:Sale
A mixed-use property located at 829 Madison Ave in the Upper East Side of Manhattan has been sold for a price of $17,000,000. The property spans 8,505 square feet, resulting in a price per square foot of $1,998. The sale took place on January 28, 2022.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $17,000,000
- Square Feet: 8,505
- Price per Square Foot: $1,998
- Address: 829 Madison Ave
- Market: Upper East Side, Manhattan
The buyer in this transaction was Midwood Investment & Development, represented by John Usdan. The seller was Stanley Myer. The deal was facilitated by brokers Andrew Natter and Harold Fuchs.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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