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
About this deal
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.
On the Map
$18,000,000
Retail
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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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93