facebook
Traded Co logo
Submit

Sk Development Sells Condo On Madison Avenue For $9.5M

Property Image
SOLD
$9,500,000

New York

See Similar Deals
Retail2,543 SF
Sold 12/06/2022
the dealplayerscompscontact
Property Image
SOLD

Sk Development Sells Condo On Madison Avenue For $9.5M

1228 Madison Avenue

See Similar Deals
Retail2,543 SF
Sold 12/06/2022
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$3,735
Total Square Footage:2,543 SF
Transaction Type:Sale

The condominium located at 1228 Madison Avenue in New York City has been sold in a recent transaction. The property, owned by Sk Development, was represented by Philip Scheinfeld and Jim St. André from Compass. The buyer was represented by Michael Passaro from Douglas Elliman. The sale price for the condo was $9,500,000, with a total square footage of 3,476. The price per square foot was calculated to be $2,733.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $9,500,000
  • Address: 1228 Madison Avenue
  • Market: New York City
  • Seller: Sk Development
  • Seller's Representative: Philip Scheinfeld & Jim St. André - Compass
  • Buyer's Representative: Michael Passaro - Douglas Elliman
  • Square Footage: 3,476
  • Price per Square Foot: $2,733

Philip Scheinfeld and Jim St. André from Compass were exclusively chosen by Sk Development to represent them in the sale of the condo. On the other hand, Michael Passaro from Douglas Elliman was the chosen representative for the buyer. The transaction, which closed on June 12, 2022, demonstrates the success of these professionals in facilitating the sale of this high-value property in the New York City market.

Players

Philip Scheinfeld
25 deals$206.4M volume
BROKER

Jim St. André
Compass
12 deals$306.7M volume
BROKER

Michael Passaro
Douglas Elliman
2 deals$20.1M volume(917) 806-8213
BROKER

SK Development
BROKERAGE

Details

SOLD
IMAGE: Philip Scheinfeld, Jim St. André & Michael Passaro DATE: 06/12/2022 ADDRESS: 1228 Madison Avenue MARKET: New York City ASSET TYPE: Condo SELLER: Sk Development SELLER'S REP: Philip Scheinfeld & Jim St. André - Compass BUYER'S REP: Michael Passaro - Douglas Elliman SALE PRICE: $9,500,000 SF: 3,476 ~ PPSF: $2,733 é

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$506,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16