Jeff Siegel Of ML7 Acquires Retail Property At 72 Reade St From MacKenzie Door Company For $18M
SOLD
$18,000,000
New York
See Similar DealsRetail
Sold
SOLD
Jeff Siegel Of ML7 Acquires Retail Property At 72 Reade St From MacKenzie Door Company For $18M
72 Reade St
See Similar DealsRetail
Sold
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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