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128 East 28th Street

Albert Malekan Purchases Retail Space At 128 East 28th Street For $1.5M With Ripco
SOLDRetail

Albert Malekan Purchases Retail Space At 128 East 28th Street For $1.5M With Ripco

128 East 28th Street

$1,500,000

$467/SF

Building Size

3,207 SF

Asset Type

Retail

Closing

Jun 26, 2025

AI

A retail property located at 128 East 28th Street in Manhattan has been sold. The transaction involved a sale price of $1,500,000, encompassing a total area of 3,207 square feet. The price per square foot is calculated to be $467.

Summary of transaction details:

The transaction features the involvement of multiple representatives from Ripco, working on behalf of the seller, Charles Sinha, ensuring a coordinated approach in the sales process. The buyer, Albert Malekan, successfully acquired the property through this transaction.

Players

Kevin Louie

Ripco

Broker

$1B

vol

126 deals

Broker
Ripco
RipcoBrokerage

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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93