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
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