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277 5th Avenue, New York Ci...

Victor Group Sells NoMad Retail Property On 277 5th Ave. For $23 Million With Buyer's Rep Francesco Bardazzi & Seller's Rep Lon Rubackin
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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

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.

Players

Lon Rubackin

CBRE

Broker

$23M

vol

5 deals

Broker
VG
Victor GroupSeller

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