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
About this deal
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:
- Property Type: Retail
- Transaction Amount: $1,500,000
- Address: 128 East 28th Street
- Market: Manhattan
- Square Footage: 3,207
- Price per Square Foot: $467
- Buyer: Albert Malekan
- Seller: Charles Sinha
- Seller's Representatives: Andreas Efthymiou, Stephen R. Preuss Sr., Charles Schirrmeister, Kevin Louie & Kevin Schmitz - Ripco
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.
On the Map
$1,500,000
$467/SF
Retail
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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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93