Aperture Acquires Property At 380 Columbus Ave New York For $8.95M With Buyer's Rep David Lebenstein
380 Columbus Ave, New York, NY, 100...
$8,950,000
Building Size
—
Asset Type
Retail
Closing
Sep 25, 2022
AI
The retail condo at 380 Columbus Ave, New York, NY, has been sold for a price of $8,950,000. The property, located in the New York market, has a square footage of 0. It is situated in the Upper West Side Historic District, close to The Museum of Natural History and with easy access to Central Park and Riverside Park.
Summary of transation details:
- Property Type: Retail Condo
- Transaction Amount: $8,950,000.00
- Address: 380 Columbus Ave, New York, NY
- Market: New York
- Buyer's Representative: David Lebenstein, Debra Wollens - Cushman & Wakefield
- Buyer: Aperture
- Previous Owner's Representative: Adelaide Polsinelli - Compass
Aperture, a not-for-profit foundation established in 1952, connects the photography community and its audiences. The transaction highlights the engaged process in identifying an ideal buyer, resulting in Aperture being chosen due to their strong ties to art and culture. The property was converted into luxury residential condominiums and features architectural details such as oversized arched windows and a restored façade.
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
1.77%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93