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:
- Property Type: Mixed-use
- Transaction Amount: $1,750,000
- Address: 418 East 59th Street
- Market: Midtown South
- Square Footage: 2,290 SF
- Price per Square Foot: $764
- Buyer: Carl-Alain Memnon & Farida Lecoin-Memnon
- Seller: Sondra Peterson
- Brokers: Bernadette Brennan, Krista Nickols, Stephanie Taxel, Jade Shenker & Katherine Pankevich - Serhant
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
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