H Mart Acquires Retail Property On 223 E 86th St, New York For $9M
SOLD
$9,000,000
New York
See Similar DealsRetail8,451 SF
Sold 01/05/2023
SOLD
H Mart Acquires Retail Property On 223 E 86th St, New York For $9M
223 E 86th St
See Similar DealsRetail8,451 SF
Sold 01/05/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,065
Total Square Footage:8,451 SF
Transaction Type:Sale
The retail property located at 223 E 86th St in New York has been sold. The property was purchased by H Mart from Michael Appell. The deal was facilitated by brokers Enrique Constante and Jordan Mandel from Vanguard Global Realty. The transaction took place on January 5, 2023.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,000,000
- Square Footage: 8,451
- Price per Square Foot: $1,065
H Mart, a buyer in the transaction, acquired the retail property located at 223 E 86th St in New York from the seller, Michael Appell. The sale was facilitated by brokers Enrique Constante and Jordan Mandel from Vanguard Global Realty. The property spans 8,451 square feet with a sale price of $9,000,000, resulting in a price per square foot of $1,065.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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