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1068 2nd Avenue, New York C...

Hildreth Real Estate Advisors Acquires Mixed-Use Property In Manhattan For $4.45M
SOLDRetail

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

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker
David Shorenstein

David Shorenstein

Hildreth Real Estate Advisors

Buyer

$187.3M

vol

60 deals

Buyer
C
CyprusSeller

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