Global Asset Properties Acquires Retail Asset In Manhattan For $7.2 Million
SOLD
$7,200,000
New York
See Similar DealsRetail4,765 SF
Sold
SOLD
Global Asset Properties Acquires Retail Asset In Manhattan For $7.2 Million
1029 1039 2nd Avenue
See Similar DealsRetail4,765 SF
Sold
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,511
Total Square Footage:4,765 SF
Transaction Type:Sale
The property involved in this transaction is a retail asset located at 1029-1039 2nd Avenue in Manhattan. The sale price was $7,200,000, corresponding to a total square footage of 4,765, which calculates to a price per square foot of $1,511.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,200,000
- Address: 1029-1039 2nd Avenue
- Market: Manhattan
- Square Footage: 4,765
- Price Per Square Foot: $1,511
- Buyer: Global Asset Properties - Albert Rabizadeh
- Brokers: Brandon Polakoff & Brent Glodowski - Avison Young
Brandon Polakoff and Brent Glodowski from Avison Young represented the buyer, Global Asset Properties, in this transaction, facilitating the exchange of the retail property in Manhattan.
Players
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$384,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,580.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,131.67
Annual Debt Service$409,580.08
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