Rybak Development Acquires Retail Building At 218 Madison Avenue In Grand Central, Manhattan For $12M
218 Madison Avenue
$12,000,000
$1,056/SF
Building Size
11,362 SF
Asset Type
Retail
Closing
Dec 14, 2023
About this deal
AI
Rybak Development's entity, 218 Madison Avenue Development LLC, acquired the retail building (O5) at 218 Madison Avenue in Grand Central, Manhattan, from Sapir Organization's entity, Asrr Suzer 218 LLC, for $12 million. The property is located in the Grand Central market of Manhattan and has a total square footage of 11,362. The price per square foot for this transaction was $1,056. The building's BSF is 35,200, resulting in a price per BSF of $341.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,000,000
- Address: 218 Madison Avenue, Grand Central, Manhattan
- Buyer: Sergey Rybak - Rybak Development
- Seller: Sharon Raz - Sapir Organization
- SF: 11,362
- PPSF: $1,056
- BSF: 35,200
- PPBSF: $341
Rybak Development, represented by Sergey Rybak - Rybak Development, completed the acquisition of the retail building from Sapir Organization, represented by Sharon Raz - Sapir Organization. This transaction occurred on 12/14/2023.
On the Map
$12,000,000
$1,056/SF
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93