John Usdan Of Midwood Investment & Development Acquires Retail Property In Manhattan For $41M
403 6th Avenue
$41,000,000
$2,208/SF
Building Size
18,564 SF
Asset Type
Retail
Closing
Jun 7, 2026
AI
A retail property located at 403 Avenue of the Americas in Manhattan has been sold for $41 million. The property encompasses an area of 18,564 square feet, leading to a price per square foot of $2,209.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $41,000,000
- Square Footage: 18,564
- Price Per Square Foot: $2,209
- Address: 403 Avenue Of Americas
- Market: Manhattan
- Buyer: John Usdan - Midwood Investment & Development
- Seller: Joshua Smith
The transaction involves buyer John Usdan, representing Midwood Investment & Development, and seller Joshua Smith, marking a significant commercial real estate deal in the Manhattan area.
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93