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257 West 17th Street

Harmony Group Capital Acquires Retail Space At 257 West 17th Street For $5.9M With Richard Z Mishaan As Buyer's Representative
SOLDRetail

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

Jeff Fishman

Newmark

Broker

$40.6M

vol

7 deals

Broker
Richard Z Mishaan
Verified Badge

Richard Z Mishaan

Rizm LLC

Broker

$29.3M

vol

4 deals

Broker
Newmark
NewmarkBrokerage

New York Retail Market Snapshot

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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