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1131 Lexington Ave, New Yor...

HFZ Capital Group's @ZielFeldman Acquires Retail Building In Manhattan For $7.1M
SOLDRetail

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.

Players

Ziel Feldman

HFZ Capital Group

Buyer

$102M

vol

3 deals

Buyer

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