Akris Acquires Mixed-Use Property On Upper East Side For $17.5M
833 Madison Avenue
$17,500,000
$9,903/SF
Building Size
1,767 SF
Asset Type
Retail
Closing
Oct 24, 2022
About this deal
AI
A mixed-use property located at 833 Madison Avenue in the Upper East Side has recently been sold for a price of $17,500,000. The property spans 9,302 square feet and has a price per square foot of $1,881.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $17,500,000
- Address: 833 Madison Avenue
- Market: Upper East Side
- Buyer: Akris - Peter Kriemler
- Seller: Perry Haberman
- Buyer's Representative: Dan Kaplan & Justin Arzi - CBRE
- Seller's Representative: Hunter Moss - Cushman & Wakefield
- Square Footage: 9,302
- Price per Square Foot: $1,881
The buyer of the property is Akris, represented by Peter Kriemler. The seller is Perry Haberman. CBRE's Dan Kaplan and Justin Arzi acted as the buyer's representatives in the deal, while Hunter Moss from Cushman & Wakefield represented the seller.
On the Map
$17,500,000
$9,903/SF
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93