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72 Reade St

Jeff Siegel Of ML7 Acquires Retail Property At 72 Reade St From MacKenzie Door Company For $18M
SOLDRetail

Jeff Siegel Of ML7 Acquires Retail Property At 72 Reade St From MacKenzie Door Company For $18M

72 Reade St

$18,000,000

Building Size

Asset Type

Retail

Closing

Apr 1, 2015

AI

The transaction involves a retail asset located at 72 Reade St in New York. The property was sold for a total price of $18,000,000.00.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $18,000,000.00
  • Buyer: Jeff Siegel
  • Buyer's Company: ML7
  • Seller: MacKenzie Door Company
  • Broker: Robert Khodadadian
  • Broker's Agency: Skyline Properties
  • Sale Date: 04/01/2015

Jeff Siegel represented ML7 in this acquisition, while MacKenzie Door Company was the seller in this transaction. Robert Khodadadian acted as the broker for the transaction through Skyline Properties.

Players

Robert Khodadadian

Skyline Properties

Broker

$1.1B

vol

30 deals

Broker
Jeffrey Siegel

Jeffrey Siegel

ML7

Buyer

$26.1M

vol

5 deals

Buyer
M
ML7Buyer
MC
MacKenzie Door CompanySeller

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

0.88%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93