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550 West 29th Street

AICON Gallery Acquires Retail Space At 550 West 29th Street For $2.025M With Brokers Aynsley Thaler & Albert Sultan
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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

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.

Players

David Green

Kassin Sabbagh Realty

Broker

$447M

vol

176 deals

Broker
Madison Realty Capital
Madison Realty CapitalSeller

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