Hildreth Real Estate Advisors Acquires Mixed-Use Property In Manhattan For $4.45M
SOLD
$4,450,000
+ 3
New York
See Similar DealsRetail1,600 SF
Sold 05/13/2022
SOLD
Hildreth Real Estate Advisors Acquires Mixed-Use Property In Manhattan For $4.45M
1068 2nd Avenue, New York City, New York 10022, United States
See Similar DealsRetail1,600 SF
Sold 05/13/2022
+ 3
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$2,781
Total Square Footage:1,600 SF
Transaction Type:Sale
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].
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$237,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,809.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,095.27
Annual Debt Service$253,143.24
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