Brodsky Organization Acquires Retail Condo From Timothy Quinlan In Chelsea For $3.625M
140 10th Avenue
$3,625,000
$641/SF
Building Size
5,649 SF
Asset Type
Retail
Closing
Mar 28, 2024
AI
The retail property located at 140 10th Avenue in Chelsea, Manhattan was recently sold in a transaction between Brodsky Organization as the buyer and Timothy Quinlan as the seller. The sale price for this retail condo was $3,625,000, with a total square footage of 5,649 square feet, equating to a price per square foot of $642.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,625,000
- Address: 140 10th Avenue
- Market: Chelsea, Manhattan
- Buyer: Brodsky Organization
- Seller: Timothy Quinlan
- Brokers: Eric Anton & Trever Gallina - Marcus & Millichap
- SF: 5,649
- PPSF: $642
The Anton Group, represented by Eric Anton and Trever Gallina from Marcus & Millichap, facilitated this sale by conducting a meticulous selection process to identify the most reliable buyer. The retail condo was successfully sold to a 1031 Exchange buyer based in New York City.
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
4.38%
Cash-on-Cash
-1.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93