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499 5th Avenue

Botsaris Morris Realty Group Sells Mixed-Use Property On 5th Avenue For $1.95M
SOLDRetail

Botsaris Morris Realty Group Sells Mixed-Use Property On 5th Avenue For $1.95M

499 5th Avenue

$1,950,000

$957/SF

Building Size

2,037 SF

Asset Type

Retail

Closing

Apr 18, 2023

AI

The mixed-use property located at 499 5th Avenue in New York City has been sold for a total price of $1,950,000. The transaction took place on April 18, 2023. The property, managed by Botsaris Morris Realty Group, offers a versatile space that can be used for both residential and commercial purposes. Situated in the bustling market of New York City, this property is sure to attract attention from potential buyers.

Summary of transaction details

Moshe Goldberger and Kobi Zamir from GFI Realty Services represented the seller in this deal. Their expertise in the real estate market helped facilitate a successful transaction. The sale of this mixed-use property demonstrates the strong demand for versatile spaces in the competitive New York City market.

Players

Moshe Goldberger

GFI Realty Services

Broker

$40M

vol

17 deals

Broker
GG
GD Realty GroupSeller

Market 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

8.13%

Cash-on-Cash

-2.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93