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
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