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69 Gansevoort Street

Michael Anders Of Iconiq Capital Purchases Retail Space At 69 Gansevoort St For $9.25M
SOLDRetail

Michael Anders Of Iconiq Capital Purchases Retail Space At 69 Gansevoort St For $9.25M

69 Gansevoort Street

$9,250,000

$3,076/SF

Building Size

3,007 SF

Asset Type

Retail

Closing

Jul 2, 2025

AI

The property asset involved in the transaction is located at 69 Gansevoort Street in the Meatpacking District of Manhattan. This retail space encompasses 3,007 square feet and was sold for $9,250,000, equating to a price per square foot of $3,076.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $9,250,000
  • Buyer: Michael Anders - Iconiq Capital
  • Seller: Michael Shah - Delshah Capital
  • Sale Date: 07/02/2025
  • Former Property Use: Iconic bistro Florent

This transaction involved notable figures in the tech industry, as Iconiq Capital is associated with influential entrepreneurs such as Mark Zuckerberg and Jack Dorsey. The acquisition was completed through a shell company in a Chapter 11 sale, indicating a strategic investment opportunity.

Players

IC
Iconiq CapitalBuyer

Michael Shah

Delshah Capital

Seller

$1.3B

vol

24 deals

Seller

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

1.71%

Cash-on-Cash

-0.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93