AICON Gallery Acquires Retail Space At 550 West 29th Street For $2.025M With Brokers Aynsley Thaler & Albert Sultan
550 West 29th Street
$2,025,000
$403/SF
Building Size
5,022 SF
Asset Type
Retail
Closing
Oct 14, 2025
About this deal
AI
The property asset involved in this transaction is a retail space located at 550 West 29th Street in Manhattan. The sale price for this asset was $2,025,000, encompassing a total square footage of 5,022. The price per square foot was calculated at approximately $403.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,025,000
- Address: 550 West 29th Street
- Market: Manhattan
- Buyer: AICON Gallery
- Seller: Madison Realty Capital
- Buyer's Representative: Aynsley Thaler & David Green - KSR
- Seller's Representative: Albert Sultan - Kassin Sabbagh Realty
- Square Footage: 5,022
- Price per Square Foot: $403
The AICON Gallery, as the buyer, was represented by Aynsley Thaler and David Green from KSR, while Madison Realty Capital, the seller, had Albert Sultan from Kassin Sabbagh Realty representing them in this transaction.
On the Map
$2,025,000
$403/SF
Retail
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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
7.83%
Cash-on-Cash
-2.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93