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
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