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Adam Behlman Of LNR Partners Sells Midtown Manhattan Retail Building For $9.5M
SOLD
$9,500,000
New York
See Similar DealsRetail14,700 SF
Sold 04/03/2026
SOLD
Adam Behlman Of LNR Partners Sells Midtown Manhattan Retail Building For $9.5M
3 East 48th Street
See Similar DealsRetail14,700 SF
Sold 04/03/2026
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$646
Total Square Footage:14,700 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$506,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16
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