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
SOLD
$16,300,000
+ 1
New York
See Similar DealsMultiFamily17,767 SF
Sold 06/21/2022
SOLD
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
See Similar DealsMultiFamily17,767 SF
Sold 06/21/2022
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$917
Total Square Footage:17,767 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$869,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,910.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$77,270.32
Annual Debt Service$927,243.79
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