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
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