Rosemark Acquires Retail Property At 1501 3rd Avenue From SMA Equities For $7.8M
SOLD
$7,800,000
New York
See Similar DealsRetail7,443 SF
Sold
SOLD
Rosemark Acquires Retail Property At 1501 3rd Avenue From SMA Equities For $7.8M
1501 3rd Avenue
See Similar DealsRetail7,443 SF
Sold
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,048
Total Square Footage:7,443 SF
Transaction Type:Sale
The retail property located at 1501 3rd Avenue in the Upper East Side has been sold for $7,800,000. This asset spans a total of 7,443 square feet, resulting in a price per square foot of $1,047.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,800,000
- Address: 1501 3rd Avenue
- Market: Upper East Side
- Square Footage: 7,443
- Price per Square Foot: $1,047
- Buyer: Rosemark
- Seller: SMA Equities
- Brokers: Eric Karmitz, Brent Glodowski & Alexandra Marolda - Avison Young
The transaction features notable individuals from Avison Young representing the brokers involved in the deal, which are Eric Karmitz, Brent Glodowski, and Alexandra Marolda. Their involvement facilitated the successful transfer of the property from the seller, SMA Equities, to the buyer, Rosemark.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$415,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,711.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,975.98
Annual Debt Service$443,711.75
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