The Zar Group Acquires Retail Condo At 1410-1418 Lexington For $6.2M
SOLD
$6,200,000
New York
See Similar DealsRetail50,000 SF
Sold 11/14/2018
SOLD
The Zar Group Acquires Retail Condo At 1410-1418 Lexington For $6.2M
1410 Lexington Ave, New York, NY 10128, USA
See Similar DealsRetail50,000 SF
Sold 11/14/2018
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$124
Total Square Footage:50,000 SF
Transaction Type:Sale
The retail condo located at 1410-1418 Lexington (aka 134 East 93rd) in the Upper East Side has been sold for a price of $6,200,000. Spanning across 5,000 square feet, this property offers ample space for various business operations. With a price per square foot of $1,250, it presents a lucrative investment opportunity.
Summary of transaction details:
- Property Type: Retail Condo
- Sale Price: $6,200,000
- Square Footage: 5,000
- Price Per Square Foot: $1,250
- Address: 1410-1418 Lexington (aka 134 East 93rd), Upper East Side
The seller of the retail condo was JVL Associates – Ingenito Family, while the buyer was The Zar Group represented by Bobby Zar. The transaction was facilitated by brokers Bunny Escava and Jeffrey Znaty from Kassin Sabbagh Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$330,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,027.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,391.16
Annual Debt Service$352,693.96
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