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410 West 48th Street, New Y...

Icon Realty Management Sells Mixed-Use Property In Hell's Kitchen For $16.3M With Brokers Brandon Polakoff, Ryan McGuirl, And Mitch Levine - Avison Young
SOLDMultiFamily

Icon Realty Management Sells Mixed-Use Property In Hell's Kitchen For $16.3M With Brokers Brandon Polakoff, Ryan McGuirl, And Mitch Levine - Avison Young

410 West 48th Street, New York City, New York 10036, United States

$16,300,000

$917/SF

Building Size

17,767 SF

Asset Type

MultiFamily

Closing

Jun 20, 2022

AI

The mixed-use property located at 410 W. 48th St. in Hell's Kitchen has recently been sold for a total price of $16,300,000. This property encompasses a total area of 17,225 square feet, resulting in a price per square foot of $946. The sale took place on June 21, 2022.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $16,300,000
  • Square Footage: 17,225
  • Price per Square Foot: $946

The seller of this property was Icon Realty Management, represented by Terrence Lowenberg. On the buyer's side, the deal was facilitated by a team of brokers from Avison Young, namely Brandon Polakoff, Ryan McGuirl, and Mitch Levine.

Players

Brandon Polakoff

Avison Young

Broker

$1.8B

vol

124 deals

Broker
Terrence Lowenberg

Terrence Lowenberg

Icon Realty Management

Seller

$301.7M

vol

16 deals

Seller

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.97%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93