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
About this deal
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.
On the Map
$3,200,000
$1,684/SF
Retail
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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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93