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Peter Kriemler's Akris Acquires Retail Property On Upper East Side For $40.6M

Property Image
SOLD
$40,600,000
Daniel (Dan) Kaplan
Harrison Sitomer
+ 1

New York

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Retail5,524 SF
Sold 12/18/2023
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Property Image
SOLD

Peter Kriemler's Akris Acquires Retail Property On Upper East Side For $40.6M

772 Madison Avenue

See Similar Deals
Retail5,524 SF
Sold 12/18/2023
Daniel (Dan) Kaplan
Harrison Sitomer
+ 1
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$7,349
Total Square Footage:5,524 SF
Transaction Type:Sale

Located at 772 Madison Avenue on the Upper East Side, this retail property was recently sold in a closed transaction. The property spans 5,524 square feet and was sold for a total price of $40,600,000, resulting in a price per square foot of $7,350.

Summary of Transaction Details:

  • Property Type: Retail
  • Transaction Amount: $40,600,000
  • Address: 772 Madison Avenue
  • Market: Upper East Side
  • Buyer: Peter Kriemler - Akris
  • Seller: Harrison Sitomer - SL Green
  • Brokers: Daniel Kaplan, Doug Middleton & Justin Arzi - CBRE

Representing the buyer in this transaction is Peter Kriemler from Akris, while Harrison Sitomer from SL Green acted as the seller. The deal was facilitated by brokers Daniel Kaplan, Doug Middleton, and Justin Arzi from CBRE. The sale price and square footage mentioned earlier were key factors in this transaction.

Players

Doug Middleton
37 deals$6.9B volume(917) 767-6955
BROKER

Daniel (Dan) Kaplan
CBRE
55 deals$1.7B volume
BROKER


Harrison Sitomer
SL Green
7 deals$3.7B volume
SELLER

Details

SOLD
IMAGE: Justin Arzi, Doug Middleton, Daniel Kaplan, Peter Kriemler & Harrison Sitomer DATE: 12/18/2023 ADDRESS: 772 Madison Avenue MARKET: Upper East Side ASSET TYPE: Retail BUYER: Peter Kriemler - Akris SELLER: Harrison Sitomer - SL Green BROKERS: Daniel Kaplan (@DKap24), Doug Middleton & Justin Arzi - CBRE SALE PRICE: $40,600,000 SF: 5,524 ~ PPSF: $7,350

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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Cash Flow (Annual)-$144,243.23
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