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833 Madison Avenue

Akris Acquires Mixed-Use Property On Upper East Side For $17.5M
SOLDRetail

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

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.

Players

Justin Arzi

CBRE

Broker

$1.2B

vol

38 deals

Broker

Peter Kriemler

Akris

Buyer

$103.1M

vol

3 deals

Buyer

New York Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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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