Victor Group Sells NoMad Retail Property On 277 5th Ave. For $23 Million With Buyer's Rep Francesco Bardazzi & Seller's Rep Lon Rubackin
277 5th Avenue, New York City, New York 10118, United States
$23,000,000
$2,660/SF
Building Size
8,645 SF
Asset Type
Retail
Closing
Feb 21, 2022
About this deal
AI
Located at 277 5th Ave in NoMad, Manhattan, this retail property was recently sold for a total of $23,000,000. The transaction took place on February 22, 2022. The property spans a total of 8,645 square feet, resulting in a price per square foot of $2,660. The seller of the property was the Victor Group.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $23,000,000
- Address: 277 5th Ave, NoMad, Manhattan
- Market: NoMad, Manhattan
- Square Feet: 8,645
- Price per Square Foot: $2,660
The buyer's representative in this deal was Francesco Bardazzi from PD Properties, along with Daniel Torkan from Parallel Realty Group. On the other hand, the seller was represented by Lon Rubackin from CBRE.
On the Map
$23,000,000
$2,660/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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93