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Zhidong Wu's ZD Jasper Realty Acquires Retail Building In Carnegie Hill, Manhattan For $24.5M

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SOLD
$24,500,000

New York

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Retail5,000 SF
Sold 10/10/2023
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Zhidong Wu's ZD Jasper Realty Acquires Retail Building In Carnegie Hill, Manhattan For $24.5M

1530 3rd Avenue

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Retail5,000 SF
Sold 10/10/2023
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$4,900
Total Square Footage:5,000 SF
Transaction Type:Sale

ZD Jasper Realty's ZDJ E 86 LLC has acquired a retail building located at 1530 Third Avenue in Carnegie Hill, Manhattan. The property, known as K1, was sold by Extell Development's 171 East 86 Street LLC for a total of $24.5 million. The retail building offers 5,000 square feet of space and has a price per square foot of $4,900. The transaction represents a buyer's zoning floor area of 49,990, with a price per zoning floor area of $490.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $24,500,000
  • Address: 1530 Third Avenue, Carnegie Hill, Manhattan
  • Market: Carnegie Hill, Manhattan

The buyer of the retail building is Zhidong Wu, represented by ZD Jasper Realty. On the other hand, Gary Barnett, representing Extell Development, acted as the seller. This transaction marks a significant milestone in the retail real estate market, highlighting the vibrant activity in the Carnegie Hill neighborhood of Manhattan.

Note: ZD Jasper Realty's ZDJ E 86 LLC successfully acquired the retail building (K1) at 1530 Third Avenue in Carnegie Hill, Manhattan, from Gary Barnett's Extell Development's 171 East 86 Street LLC for $24.5 million.

Players

Zhidong Wu
4 deals$92.2M volume
BUYER

Gary Barnett
EXTELL
54 deals$8.2B volume
SELLER

Details

SOLD
IMAGE: Gary Barnett DATE: 10/10/2023 ADDRESS: 1530 3rd Avenue MARKET: Carnegie Hill, Manhattan ASSET TYPE: Retail BUYER: Zhidong Wu - ZD Jasper Realty SELLER: Gary Barnett - Extell Development (@Extell) SALE PRICE: $24,500,000 BSF: 49,990 ~ PPBSF: $490 SF: 5,000 ~ PPSF: $4,900 NOTE: ZD Jasper Realty's ZDJ E 86 LLC acquired the retail building (K1) at 1530 Third Avenue in Carnegie Hill, Manhattan, from Gary Barnett's Extell Development's 171 East 86 Street LLC for $24.5 million.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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