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667 Lexington Avenue
SOLD

Antony Contomichalos Acquires 667 Lexington Avenue Retail For $5.95M

667 Lexington Avenue

Retail
5,036 SF
clock iconSold 87 days ago
Will Conrad
Sanjana Reddy
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Summary

Sale
NEW YORK
Retail
5,036 sqft

The retail property located at 667 Lexington Avenue in Stuyvesant Heights was sold for $5,950,000. Spanning 5,036 square feet, the property was traded at a price per square foot of $1,181. The transaction took place between Antony Contomichalos, the buyer, and Irving Schneider, the seller. The deal was facilitated by brokers Will Conrad and Sanjana Reddy from Cushman & Wakefield.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $5,950,000
  • Address: 667 Lexington Avenue
  • Market: Stuyvesant Heights
  • Square Footage: 5,036
  • Buyer: Antony Contomichalos
  • Seller: Irving Schneider
  • Brokers: Will Conrad & Sanjana Reddy - Cushman & Wakefield

The sale price of $5,950,000 represents an in-place cap rate of 5.11% and a Year 1 cap rate of 7.11%. These financial metrics demonstrate the attractiveness and potential profitability of the investment in the retail property on Lexington Avenue.

Players

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  • Agents

    2

  • Agencies

    1

Will Conrad's profile picture
Will Conrad
Cushman & Wakefield-image
Director
$182.5M Sold

Details

Deal Summary
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SOLD
IMAGE: Will Conrad & Sanjana Reddy DATE: 02/28/2024 ADDRESS: 667 Lexington Avenue MARKET: Stuyvesant Heights ASSET TYPE: Retail BUYER: Antony Contomichalos SELLER: Irving Schneider BROKERS: Will Conrad (@WTConrad) & Sanjana Reddy - Cushman & Wakefield (@CushWake) SALE PRICE: $5,950,000 SF: 5,036 ~ PPSF: $1,181 NOTE FROM BROKER: The sale price of $5,950,000 represents an in-place cap rate of 5.11% and a Year 1 cap rate of 7.11%.

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Address667 Lexington Avenue

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