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209 7th Avenue, Manhattan, ...

Hildreth Real Estate Advisors Acquires Mixed-Use Property In Chelsea For $3.9M
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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

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

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker
David Shorenstein

David Shorenstein

Hildreth Real Estate Advisors

Buyer

$187.3M

vol

60 deals

Buyer

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

4.07%

Cash-on-Cash

-1.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93