Steven Kashanian & Adam Hajibai Acquire Retail Space From Morgan Allard For $930,000 In Carnegie Hill
1339 Madison Avenue
$930,000
$775/SF
Building Size
1,200 SF
Asset Type
Retail
Closing
Sep 8, 2025
AI
A retail asset located at 1339 Madison Avenue in the Carnegie Hill market has been sold for $930,000. The property has a total square footage of 1,200, translating to a price per square foot of $775. This includes a grade space of 850 square feet along with an additional 350 square foot mezzanine level.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $930,000
- Square Footage: 1,200
- Price Per Square Foot: $775
- Buyer: Steven Kashanian & Adam Hajibai
- Seller: Morgan Allard
- Broker: Matthew Marshall - Marshall Real Estate
The transaction was facilitated by Matthew Marshall, representing the seller, Morgan Allard, highlighting the involvement of key stakeholders in this retail property deal.
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
17.06%
Cash-on-Cash
-4.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93