Albert Rabizadeh Of Global Asset Properties Acquires Retail Condos From Johnny P. McCarthy For $5.8M
350 West 42nd Street
$5,800,000
$853/SF
Building Size
6,793 SF
Asset Type
Retail
Closing
Dec 19, 2025
AI
Two retail condos located at 350 West 42nd Street in Hell’s Kitchen, Manhattan, were sold for $5,800,000. The total square footage of the properties is 6,793, with a price per square foot of $854.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $5,800,000
- Buyer: Albert Rabizadeh - Global Asset Properties
- Seller: Johnny P. McCarthy - HUBB NYC
- Broker: Brian Segall - Newmark
- Address: 350 West 42nd Street
- Market: Hell’s Kitchen, Manhattan
- SF: 6,793
- PPSF: $854
The purchase was made through 350 West 42nd Retail LLC by Global Asset Properties from HUBB NYC. Brian Segall represented the transaction on behalf of the seller, Johnny P. McCarthy.
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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93