Nathan Khan Purchases Retail Property At 350-354 6th Avenue For $16.5 Million
350 354 6th Avenue
$16,500,000
$982/SF
Building Size
16,798 SF
Asset Type
Retail
Closing
Jan 14, 2025
About this deal
AI
The property asset involved in this transaction is a retail space located at 350-354 6th Avenue in the Manhattan market. The sale price for the property was $16,500,000, with a total square footage of 16,798, resulting in a price per square foot of $982.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,500,000
- Address: 350-354 6th Avenue
- Market: Manhattan
- Square Footage: 16,798
- Price per Square Foot: $982
- Buyer: Nathan Khan
- Seller: Nate Cann - Dry Creek Capital Partners
- Broker Representatives: Adelaide Polsinelli & Trystan Polsinelli - Compass
In this transaction, the brokers representing the seller were Adelaide Polsinelli and Trystan Polsinelli from Compass. Notably, after four years and the involvement of four different ownership entities, which included a bankruptcy and an unsuccessful liquidation auction, the brokers successfully procured the sale of the property to a local nonprofit.
On the Map
$16,500,000
$982/SF
Retail
View full map
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Adelaide Polsinelli to view all their deals.
Browse New York retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93