The Jackson Group Acquires Retail Property On Madison Avenue For $9M
809 Madison Avenue
$9,000,000
$4,130/SF
Building Size
2,179 SF
Asset Type
Retail
Closing
May 13, 2024
AI
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:
- Property Type: Retail
- Transaction Amount: $9,000,000
- Buyer: The Jackson Group - Elliott Chehebar
- Seller: Churchill Real Estate - Sorabh Maheshwari & Justin Ehrlich
- Brokers: James Nelson, Brent Glodowski, Eric Karmitz, & Alexandra Marolda - Avison Young
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
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93