AR Group Acquires Retail Property In Union Square For $10.5M
34 East 14th Street, New York City, New York 10003, United States
$10,500,000
$1,400/SF
Building Size
7,500 SF
Asset Type
Retail
Closing
Mar 9, 2022
About this deal
AI
The retail property located at 34 East 14th Street in Union Square has been sold for a total price of $10,500,000. The transaction took place on March 10, 2022. The property spans 7,500 square feet, resulting in a price per square foot of $1,400. The buyer of the property is AR Group, represented by Ali S. Butt. The seller, Urban on The Square, was represented by Jane Studley. The deal was facilitated by Louis Franco of Isa Realty Group.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $10,500,000
- Square Footage: 7,500
- Price Per Square Foot: $1,400
- Buyer: AR Group - Ali S. Butt
- Seller: Urban on The Square - Jane Studley
- Broker: Louis Franco - Isa Realty Group
The sale of the retail property on 34 East 14th Street in Union Square was successfully completed. The transaction involved several key individuals and companies. Ali S. Butt represented AR Group as the buyer in the deal. Jane Studley represented Urban on The Square as the seller. Louis Franco, from Isa Realty Group, acted as the broker for the transaction.
On the Map
$10,500,000
$1,400/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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93