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27 East 22nd Street

Forma Med-Spa Acquires Retail Property In Flatiron For $3.2M With Buyer's Rep Reserve Real Estate And Seller's Rep Cushman & Wakefield
SOLDRetail

Forma Med-Spa Acquires Retail Property In Flatiron For $3.2M With Buyer's Rep Reserve Real Estate And Seller's Rep Cushman & Wakefield

27 East 22nd Street

$3,200,000

$1,684/SF

Building Size

1,900 SF

Asset Type

Retail

Closing

Oct 5, 2022

AI

A retail property located at 27 E 22nd St in the Flatiron market has been sold. The property spans 1,900 square feet and was sold for a total price of $3,200,000, resulting in a price per square foot of $1,684.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $3,200,000
  • Address: 27 E 22nd St
  • Market: Flatiron
  • Square Footage: 1,900

FORMA Med - Spa, owned by James P Bradley MD and Min Yeong Lee CMI, acted as the buyer in the transaction. They were represented by Steve Ganz of Reserve Real Estate. The seller's representatives were Hunter Moss, John Ciraulo, Craig Waggner, and Mike Kavanagh from Cushman & Wakefield.

Players

John Ciraulo

Cushman & Wakefield

Broker

$747.3M

vol

48 deals

Broker

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

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93