HFZ Capital Group's @ZielFeldman Acquires Retail Building In Manhattan For $7.1M
1131 Lexington Ave, New York, NY 10075, USA
Building Size
2,169 SF
Asset Type
Retail
Closing
Nov 27, 2017
AI
Located at 1131 Lexington Avenue in Manhattan, this retail building was recently sold for $7,100,000. With a total square footage of 2,169, the property was purchased at a price per square foot of $3,273.
Summary of transaction details
- Property Type: Retail Building
- Transaction Amount: $7,100,000
- Square Footage: 2,169
- Price Per Square Foot: $3,273
The seller of this property was Virginia Mellitos, while the buyer was HFZ Capital Group’s Ziel Feldman. It is worth noting that this property is part of a larger development site, and Ziel Feldman is in the process of assembling adjacent properties.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93