SOLDRetail
Adam Behlman Of LNR Partners Sells Midtown Manhattan Retail Building For $9.5M
3 East 48th Street
$9,500,000
$646/SF
Building Size
14,700 SF
Asset Type
Retail
Closing
Apr 3, 2026
AI
A retail building located at 3 East 48th Street in Midtown Manhattan was sold for $9,500,000. The property encompasses a total of 14,700 square feet, translating to a price per square foot of $646.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,500,000
- Address: 3 East 48th Street
- Market: Midtown Manhattan
- Seller: Adam Behlman - LNR Partners
This transaction highlights Adam Behlman representing LNR Partners in the sale of the property, which marks a notable commercial real estate deal in the area.
Players
LP
LNR PartnersSeller
Thor EquitiesLandlord
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93