559 West 22nd Development LLC Acquires Retail Asset From Jeff T. Blau For $4M In Manhattan
162 West 24th Street
$4,000,000
$540/SF
Building Size
7,408 SF
Asset Type
Retail
Closing
Apr 27, 2026
AI
A retail asset located at 162 West 24th Street in Manhattan has been sold. This property spans 7,408 square feet and was sold for $4 million, equating to approximately $540 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,000,000
- Address: 162 West 24th Street
- Market: Manhattan
- Square Footage: 7,408
- Price Per Square Foot: $540
- Buyer: 559 West 22nd Development, LLC
- Seller: Jeff T. Blau - Related Companies
The transaction involved Jeff T. Blau, CEO of Related Companies, who facilitated the sale to 559 West 22nd Development, LLC. This deal highlights the ongoing activity within the Manhattan retail market, marking a significant movement in property ownership in the area.
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93