Gil Galiai Acquires Retail Condo On Upper East Side For $7.5M
SOLD
$7,500,000
New York
See Similar DealsRetail73,520 SF
Sold
SOLD
Gil Galiai Acquires Retail Condo On Upper East Side For $7.5M
1160 3rd Ave, New York, NY 10065, USA
See Similar DealsRetail73,520 SF
Sold
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$102
Total Square Footage:73520 SF
Transaction Type:Sale
A retail condo located at 1160 Third Avenue in the Upper East Side has been sold for a price of $7,500,000. The property spans across 7,352 square feet, resulting in a price per square foot of $1,020.
Summary of transaction details:
- Property Type: Retail Condo
- Transaction Amount: $7,500,000
- Address: 1160 Third Avenue
- Market: Upper East Side
- Square Footage: 7,352
- Price per Square Foot: $1,020
The retail condo was purchased by Gil Galiai, while the seller was The Larsen Family. The deal was facilitated by Hunter Moss & Brad Jones from Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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