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

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

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

38 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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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