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
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