SOLDRetail
Hildreth Real Estate Advisors Acquires Mixed-Use Property In Chelsea For $3.9M
209 7th Avenue, Manhattan, New York, NY, USA
$3,900,000
$1,038/SF
Building Size
3,756 SF
Asset Type
Retail
Closing
Jun 29, 2020
About this deal
AI
A mixed-use property at 209 7th Ave in Chelsea has been sold for $3,900,000. The property spans across 3,756 square feet, resulting in a price per square foot of $1,038. It was previously listed for $5,750,000. The buyer, Hildreth Real Estate Advisors, was represented by David Shorenstein, Jason Breitstone, Max Padway, and Ethan Frank. The seller was David Restivo. The deal was facilitated by Louis Puopolo of Douglas Elliman.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,900,000
- Address: 209 7th Ave
- Market: Chelsea
- Buyer: Hildreth Real Estate Advisors - David Shorenstein, Jason Breitstone, Max Padway, and Ethan Frank
- Seller: David Restivo
- Broker: Louis Puopolo - Douglas Elliman
This acquisition marks Hildreth Real Estate Advisors' third purchase in the past 50 days. For more deal opportunities, interested parties can contact Hildreth Real Estate Advisors at [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93