Midwood Investment & Development Acquires Mixed-Use Property On Madison Ave For $17M
829 Madison Avenue, New York City, New York 10021, United States
$17,000,000
$1,998/SF
Building Size
8,505 SF
Asset Type
Mixed-use
Closing
Jan 28, 2022
AI
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
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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93