Bob Knakal & Clint Olsen Sell Lenox Hill Retail Condo On Third Avenue For $19.75M
991 3rd Avenue, Manhattan, New York, NY, USA
$19,750,000
$2,821/SF
Building Size
7,000 SF
Asset Type
Mixed-use
Closing
Oct 8, 2021
About this deal
AI
A retail condo located at 991 3rd Avenue in Lenox Hill, Manhattan, was recently sold for approximately $19,750,000. Spanning approximately 7,000 square feet, the property was purchased at an average price of $2,821 per square foot.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $19,750,000
- Address: 991 3rd Avenue
- Market: Lenox Hill, Manhattan
- Square Footage: 7,000 (approx.)
- Price per Square Foot: $2,821 (approx.)
The sale was facilitated by brokers Bob Knakal and Clint Olsen LL. They played a critical role in representing the buyer and seller, ensuring the successful completion of the transaction.
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
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93