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1160 3rd Ave, New York, NY ...

Gil Galiai Acquires Retail Condo On Upper East Side For $7.5M
SOLDRetail

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

Brad Jones

Cushman & Wakefield

Broker

$44.9M

vol

3 deals

Broker

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