Forma Med-Spa Acquires Retail Property In Flatiron For $3.2M With Buyer's Rep Reserve Real Estate And Seller's Rep Cushman & Wakefield
SOLD
$3,200,000
+ 2
New York
See Similar DealsRetail1,900 SF
Sold 10/05/2022
SOLD
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
See Similar DealsRetail1,900 SF
Sold 10/05/2022
+ 2
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,684
Total Square Footage:1,900 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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