Thor Equities Sells Retail Property On Eighth Ave. In Hell's Kitchen For $10.3 Million
725 8th Avenue, Manhattan, New York, NY, USA
$10,308,511
$1,957/SF
Building Size
5,267 SF
Asset Type
Retail
Closing
Nov 1, 2021
About this deal
AI
The retail property located at 725 Eighth Ave. in Hell's Kitchen recently sold for $10,308,511. Situated in a C4-4 zoning area, the property offers a total square footage of 5,267. The price per square foot (PPSF) for this transaction is $1,957. The building's square footage (BSF) is 18,810, resulting in a price per BSF of $548. The sale took place on November 1, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $10,308,511
- Address: 725 Eighth Ave.
- Market: Hell's Kitchen
- Zoning: C4-4
The seller of the property is Thor Equities. Joseph Sitt and Jack Sitt are featured in the associated image. They may represent the seller or have another role in the transaction, but it is not specified in the given information.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.54%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93