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401 8th Avenue

Retail Property Sold In Chelsea For $5.3 Million With Brokers Ceasar Salama Izack Lati Isaac Faur Marc Sitt Nathan Aballi
SOLDRetail

Retail Property Sold In Chelsea For $5.3 Million With Brokers Ceasar Salama Izack Lati Isaac Faur Marc Sitt Nathan Aballi

401 8th Avenue

$5,300,000

$1,060/SF

Building Size

5,000 SF

Asset Type

Retail

Closing

Oct 9, 2024

AI

The property asset involved in this transaction is located at 401 8th Avenue in the Chelsea market. The asset type is retail, spanning a total of 5,000 square feet. The sale price for this property was recorded at $5,300,000, which equates to a price per square foot of $1,060.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $5,300,000
  • Square Footage: 5,000 SF
  • Price per Square Foot: $1,060
  • Address: 401 8th Avenue
  • Market: Chelsea

The deal involved multiple representatives from KSR, specifically Ceasar Salama, Izack Lati, Isaac Faur, Marc Sitt, and Nathan Aballi, who played pivotal roles in the transaction process for the retail property.

Players

Marc Sitt

Kassin Sabbagh Realty

Broker

$272.9M

vol

64 deals

Broker

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

2.99%

Cash-on-Cash

-0.86%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93