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

Property Image
SOLD
$9,000,000
Justin Arzi
Daniel (Dan) Kaplan
+ 1

New York

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Retail44,000 SF
Sold 07/17/2023
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Property Image
SOLD

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

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

See Similar Deals
Retail44,000 SF
Sold 07/17/2023
Justin Arzi
Daniel (Dan) Kaplan
+ 1
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$204
Total Square Footage:44,000 SF
Transaction Type:Sale

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
38 deals$1.2B volume(212) 984-7142
BROKER

Timothy (Tim) Sheehan
CBRE
4 deals$96.5M volume
BROKER

Daniel (Dan) Kaplan
CBRE
55 deals$1.7B volume
BROKER

Meir M. Cohen
5 deals$30.9M volume
BUYER

Details

SOLD
IMAGE: Meir Cohen, Daniel Kaplan & Justin Arzi DATE: 07/17/2023 ADDRESS: 543 West 42nd Street MARKET: Hells Kitchen ASSET TYPE: Retail BUYER: Cohen Equities (@CohenEquities)- Meir Cohen SELLER: All Stars Project BROKERS: Daniel Kaplan, Justin Arzi & Tim Sheehan- CBRE SALE PRICE: $9,000,000 SF: 44,000 ~ PPSF: $205

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10