Manhattan Cardiology Acquires Retail Space In Flatiron District For $7 Million With Harel Group As Seller
254 Park Avenue South
$7,000,000
$777/SF
Building Size
9,000 SF
Asset Type
Retail
Closing
Jul 20, 2025
AI
The retail asset located at 254 Park Avenue South in the Flatiron District features a total square footage of 9,000, and the sale concluded at a price of $7,000,000, translating to a price per square foot of $777.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,000,000
- Address: 254 Park Avenue South
- Market: Flatiron District
- Square Footage: 9,000
- Price per Square Foot: $777
- Buyer: Manhattan Cardiology
- Seller: Harel Group
- Seller's Representative: Daniel Kaplan & Justin Arzi - CBRE
The transaction involved key figures including buyers from Manhattan Cardiology, represented by their agents, while the Harel Group was represented by Daniel Kaplan and Justin Arzi from CBRE, playing a crucial role in facilitating the 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93