Buvet Fee Owner LLC Acquires Midtown Retail Property For $35M
SOLD
$35,000,000
New York
See Similar DealsRetail5,800 SF
Sold 11/30/2020
SOLD
Buvet Fee Owner LLC Acquires Midtown Retail Property For $35M
429 7th Ave, New York, NY 10001, USA
See Similar DealsRetail5,800 SF
Sold 11/30/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$6,034
Total Square Footage:5,800 SF
Transaction Type:Sale
The retail property located at 429 Seventh Avenue in Midtown has been sold for a price of $35,000,000. The property spans 5,800 square feet and has a price per square foot of $6,000. The transaction involved the buyer, Buvet Fee Owner LLC, and the seller, McDonald's.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $35,000,000
- Address: 429 Seventh Avenue
- Market: Midtown
- Square Footage: 5,800
- Price Per Square Foot: $6,000
- Buyer: Buvet Fee Owner LLC
- Seller: McDonald's
Buvet Fee Owner LLC represented themselves in the transaction, while McDonald's was represented by their broker.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27
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