NYC Fifth Avenue Retail Holdings Acquires Retail Condo In Manhattan For $10.8M
241 5th Ave, New York, NY 10016, USA
Building Size
2,706 SF
Asset Type
Retail
Closing
Dec 17, 2017
AI
The retail condo located at 241 Fifth Avenue in Manhattan has been sold for a price of $10,800,000. The property, owned by JTRE Holdings Jack Terzi, was purchased by NYC Fifth Avenue Retail Holdings, LLC, a buyer represented by the brokers @rkfretail – Brian Segall, Andrew Jacobs, and George Martinecz.
Summary of Transaction Details
- Property Type: Retail Condo
- Transaction Amount: $10,800,000
- Seller: JTRE Holdings Jack Terzi
- Buyer: NYC Fifth Avenue Retail Holdings, LLC
- Brokers: @rkfretail – Brian Segall, Andrew Jacobs, and George Martinecz
The involvement of @rkfretail – Brian Segall, Andrew Jacobs, and George Martinecz as brokers highlights their role in facilitating the transaction. Their expertise and representation helped in bringing the seller and buyer together for this property deal.
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93