Hildreth Real Estate Advisors Acquires Mixed-Use Property In Manhattan For $4.45M
1068 2nd Avenue, New York City, New York 10022, United States
$4,450,000
$2,781/SF
Building Size
1,600 SF
Asset Type
Retail
Closing
May 12, 2022
AI
Hildreth Real Estate Advisors (HREA) has acquired a fully FM property in Manhattan. The mixed-use asset, located at 1068 2nd Ave, was sold by Evans Cyprus for a total price of $4,450,000. The property spans across 4,584 square feet, resulting in a price per square foot of $970.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,450,000
- Address: 1068 2nd Ave
- Market: Manhattan
The deal was facilitated by HREA's representatives, David Shorenstein, Jason Breitstone, Max Padway, and Ethan Frank. HREA has expressed interest in further off-market transactions within Manhattan and encourages interested parties to reach out via email at [email protected].
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.56%
Cash-on-Cash
-1.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93