Metlife Purchases Retail Property At 188 East 64th Street From Elizabeth Smoltz For $44.1M
188 East 64th Street
$44,100,000
$1,059/SF
Building Size
41,622 SF
Asset Type
Retail
Closing
Jun 24, 2026
About this deal
AI
The property asset involved in this transaction is a retail space located at 188 East 64th Street in the Upper East Side market. The sale price is $44,100,000, with a total square footage of 41,622, resulting in a price per square foot of $1,059.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $44,100,000
- Buyer: Metlife
- Seller: Elizabeth Smoltz
- Broker: Daniel Kaplan - CBRE
- Tenant: Avi Kaner - Morton Williams
Daniel Kaplan of CBRE represented the seller, Elizabeth Smoltz, in this deed in lieu sale transaction while Avi Kaner will serve as the tenant under the new arrangement.
On the Map
$44,100,000
$1,059/SF
Retail
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Players
Market 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93