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418 East 59th Street

Carl-Alain Memnon And Farida Lecoin-Memnon Acquire Mixed-Use Property At 418 East 59th Street For $1.75M
SOLDMixed-use

Carl-Alain Memnon And Farida Lecoin-Memnon Acquire Mixed-Use Property At 418 East 59th Street For $1.75M

418 East 59th Street

$1,750,000

$764/SF

Building Size

2,290 SF

Asset Type

Mixed-use

Closing

Sep 3, 2025

AI

The property involved in this transaction is a mixed-use asset located at 418 East 59th Street in the Midtown South market. The sale price was recorded at $1,750,000, with the property encompassing a total square footage of 2,290 and a price per square foot (PPSF) of $764.

Summary of transaction details:

The Krista Nickols & Brennan Commercial Team at SERHANT. represented the seller in this transaction, highlighting a collaborative effort among the brokers involved. Interested parties seeking expert commercial deal-making can contact Bernadette Brennan, while those needing assistance with residential transactions can reach out to Krista Nickols.

Players

Krista Nickols

Serhant

Broker

$16M

vol

2 deals

Broker
Serhant
SerhantBrokerage

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

9.06%

Cash-on-Cash

-2.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93