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543 W 42nd St New York, NY ...

Updated Oct 29, 2024

Bilt advertisement
Cohen Equities Acquires Hells Kitchen Retail Property On West 42nd Street For $9M
SOLDRetail

Cohen Equities Acquires Hells Kitchen Retail Property On West 42nd Street For $9M

543 W 42nd St New York, NY 10036, USA

$9,000,000

$204/SF

Building Size

44,000 SF

Asset Type

Retail

Closing

Jul 17, 2023

About this deal

AI

Located at 543 West 42nd Street in Hells Kitchen, this retail property has recently changed hands in a sale transaction. The property spans 44,000 square feet and was sold for a price of $9,000,000, resulting in a price per square foot of $205. The buyer of this asset is Cohen Equities, represented by Meir Cohen. The seller in this deal is All Stars Project.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $9,000,000
  • Square Footage: 44,000
  • Price per Square Foot: $205
  • Address: 543 West 42nd Street
  • Market: Hells Kitchen

Handling the transaction were brokers Daniel Kaplan, Justin Arzi, and Tim Sheehan from CBRE, representing the parties involved in the deal. Their expertise and negotiation skills played a pivotal role in ensuring a successful transaction.

Players

Justin Arzi

CBRE

Broker

$1.2B

vol

39 deals

Broker
Meir M. Cohen

Meir M. Cohen

Cohen Equities

Buyer

$30.9M

vol

5 deals

Buyer

New York Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $204 per square foot on a published $9M for 44,000 square feet (2023).

Visit Timothy (Tim) Sheehan to view all their deals.

Browse New York retail sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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