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Toll Brothers Sells Retail Asset At 2686-2690 Broadway For $17.1 Million With Avison Young Rep

Property Image
SOLD
$17,100,000
Eric Karmitz
Charlie Gravina
+ 2

New York

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Retail8,158 SF
Sold
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Property Image
SOLD

Toll Brothers Sells Retail Asset At 2686-2690 Broadway For $17.1 Million With Avison Young Rep

2686-2690 Broadway

See Similar Deals
Retail8,158 SF
Sold
Eric Karmitz
Charlie Gravina
+ 2
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$2096
Total Square Footage:8158 SF
Transaction Type:Sale

The retail asset located at 2686-2690 Broadway in the Upper West Side was involved in a sale transaction. The total sale price for the property was $17,100,000, and it encompasses a square footage of 8,158 with a price per square foot of $2,096.

Summary of transaction details:

The deal was facilitated by Andrew Berry and Charlie Gravina, who represented the buyer, while James Nelson, Brent Glodowski, and Eric Karmitz acted as representatives for the seller. This involvement underscores the collaborative roles of the agencies in the transaction process.

Players

Charlie Gravina
21 deals$280.6M volume
BROKER

Eric Karmitz
Avison Young
36 deals$767.7M volume
BROKER

Andrew Berry
Cushman & Wakefield
32 deals$367.5M volume
BROKER

Brent Glodowski
Avison Young
32 deals$596.6M volume
BROKER

James Nelson
Avison Young
85 deals$1.9B volume
BROKER

Details

SOLD
IMAGE: James Nelson, Brent Glodowski, Eric Karmitz, Andrew Berry & Charlie Gravina DATE: 11/13/2024 ADDRESS: 2686-2690 Broadway MARKET: Upper West Side ASSET TYPE: Retail SELLER: Toll Brothers BUYER'S REP: Andrew Berry (@ATBerry3) & Charlie Gravina (@Chuckee_G) - Cushman & Wakefield (@CushWake) SELLER'S REP: James Nelson (@JamesNelsonNYC), Brent Glodowski (@itsBGlo) & Eric Karmitz (@Eric.Karmitz) - Avison Young (@Avison_Young_Global) SALE PRICE: $17,100,000 SF: 8,158 ~ PPSF: $2,096

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$912,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$60,752.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$81,062.72
Annual Debt Service$972,752.69