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The Jackson Group Acquires Retail Property On Madison Avenue For $9M

Property Image
SOLD
$9,000,000
James Nelson
Eric Karmitz
Brent Glodowski
+ 1

New York

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Retail2,179 SF
Sold 05/13/2024
the dealplayerscompscontact
Property Image
SOLD

The Jackson Group Acquires Retail Property On Madison Avenue For $9M

809 Madison Avenue

See Similar Deals
Retail2,179 SF
Sold 05/13/2024
James Nelson
Eric Karmitz
Brent Glodowski
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$4,130
Total Square Footage:2,179 SF
Transaction Type:Sale

The retail property located at 809 Madison Avenue in Lenox Hill, Manhattan, was recently involved in a sale transaction. The property spans 2,179 square feet and was sold for $9,000,000, reflecting a price per square foot of $4,130. The transaction took place on May 13, 2024.

Summary of transation details:

The sale was facilitated by James Nelson, Brent Glodowski, Eric Karmitz, and Alexandra Marolda from Avison Young. The buyers, represented by Elliott Chehebar of The Jackson Group, acquired the property from the sellers, Churchill Real Estate, represented by Sorabh Maheshwari & Justin Ehrlich.

Players

Eric Karmitz
Avison Young
Eric Karmitz
36 deals$767.7M volume
BROKER
Brent Glodowski
Avison Young
Brent Glodowski
32 deals$596.6M volume
BROKER
James Nelson
Avison Young
James Nelson
85 deals$1.9B volume
BROKER
Alexandra Marolda
Avison Young
Alexandra Marolda
37 deals$814.9M volume
BROKER

Details

SOLD
IMAGE: James Nelson, Eric Karmitz, Elliott Chehebar, Alexandra Marolda & Brent Glodowski DATE: 05/13/2024 ADDRESS: 809 Madison Avenue MARKET: Lenox Hill, Manhattan ASSET TYPE: Retail BUYER: The Jackson Group - Elliott Chehebar SELLER: Churchill Real Estate - Sorabh Maheshwari & Justin Ehrlich BROKERS: James Nelson (@JamesNelsonNYC), Brent Glodowski (@itsBGlo), Eric Karmitz (@Eric.Karmitz) & Alexandra Marolda (@alexandramnyc) - Avison Young (@Avison_Young_Global) SALE PRICE: $9,000,000 SF: 2,179 sf ~ PPSF: $4,130

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10