Gil Galiai Acquires Retail Condo On Upper East Side For $7.5M
1160 3rd Ave, New York, NY 10065, USA
$7,500,000
$102/SF
Building Size
73,520 SF
Asset Type
Retail
Closing
Jun 2, 2020
AI
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.
Players
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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93