Harmony Group Capital Acquires Retail Space At 257 West 17th Street For $5.9M With Richard Z Mishaan As Buyer's Representative
257 West 17th Street
$5,900,000
$478/SF
Building Size
12,321 SF
Asset Type
Retail
Closing
Aug 24, 2025
AI
The retail asset located at 257 West 17th Street - Unit C-1 in Chelsea, Manhattan, has been sold for a total of $5,900,000. The property has a total square footage of 12,321 and has a price per square foot of $478.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,900,000
- Buyer: Harmony Group Capital
- Seller: Jodi Gerstman
- Buyer's Representative: Richard Z Mishaan - Rizm LLC
- Seller's Representatives: Jeff Fishman & Andrew Taub - Newmark
This transaction showcases the negotiation and collaboration between key figures, including Richard Z Mishaan representing the buyer, while Jeff Fishman and Andrew Taub acted on behalf of the seller. This collaborative effort facilitated the closing of the deal on August 25, 2025.
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
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93