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189 Madison Ave, New York, ...

HUBBNYC Acquires Retail Condo On Madison Avenue For $16.8M
SOLDRetail

HUBBNYC Acquires Retail Condo On Madison Avenue For $16.8M

189 Madison Ave, New York, NY 10016, USA

$16,800,000

$943/SF

Building Size

17,800 SF

Asset Type

Retail

Closing

Nov 29, 2020

AI

A retail condo located at 189-199 Madison Avenue in Murray Hill has been sold for $16,800,000. The property spans 17,800 square feet, with 11,000 square feet at grade level. The sale price translates to a price per square foot of $943.

Summary of transation details

  • Property Type: Retail Condo
  • Transaction Amount: $16,800,000
  • Address: 189-199 Madison Avenue
  • Market: Murray Hill

Johnny McCarthy and Jesse Terry, representing HubbNYC, acquired the property. The seller, in this case, was Rose Associates. The sale was facilitated by Helen Hwang, Karen Wiedenmann, Brian Szczapa, Abie Kassin, Yasmin Kheradpey, and Ernie from Meridian Capital Group.

Players

Abie Kassin

Meridian Capital Group

Broker

$1.6B

vol

52 deals

Broker
Jonny McCarthy

Jonny McCarthy

HUBB NYC

Buyer

$64.2M

vol

4 deals

Buyer
RA
Rose AssociatesSeller

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

0.94%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93