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122 Greenwich Ave, New York...

RFR Realty Acquires One Jackson Square Retail Condos In New York For $31M
SOLDRetail

RFR Realty Acquires One Jackson Square Retail Condos In New York For $31M

122 Greenwich Ave, New York, NY 10011, USA

Building Size

43,000 SF

Asset Type

Retail

Closing

Nov 28, 2020

AI

The property involved in the transaction is One Jackson Square, located at 122 Greenwich Avenue in Manhattan. It consists of 8 retail condos with a total area of 43,000 square feet. The transaction price for the property was $31,000,000, with a price per square foot of $720.

Summary of transaction details

  • Property Type: 8 Retail Condos
  • Transaction Amount: $31,000,000
  • Address: 122 Greenwich Avenue
  • City: New York
  • Market: Manhattan
  • Square Footage: 43,000
  • Price Per Square Foot: $720

The seller of the property was NY REIT, represented by Wendy Silverstein. The buyer of the property was RFR Realty, led by Aby Rosen. The brokerage team involved in the deal included Jeff Fishman, Brian Segal, Andrew Jacobs, and George Martinecz from RKFRetail.

Players

Jeff Fishman

Newmark

Broker

$40.6M

vol

7 deals

Broker
Wendy Silverstein

Wendy Silverstein

Seller

5 deals

Seller
NR
NY ReitSeller

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