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

Property Image
SOLD
$17,500,000
Hunter Moss
Daniel (Dan) Kaplan
+ 1

New York

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Retail1,767 SF
Sold 10/24/2022
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Property Image
SOLD

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

833 Madison Avenue

See Similar Deals
Retail1,767 SF
Sold 10/24/2022
Hunter Moss
Daniel (Dan) Kaplan
+ 1
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$9,903
Total Square Footage:1,767 SF
Transaction Type:Sale

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
38 deals$1.2B volume(212) 984-7142
BROKER

Hunter Moss
Cushman & Wakefield
13 deals$143.4M volume
BROKER

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

Details

SOLD
IMAGE: Hunter Moss, Dan Kaplan & Justin Arzi DATE: 10/24/2022 ADDRESS: 833 Madison Avenue MARKET: Upper East Side ASSET TYPE: Mixed-Use BUYER: Akris - Peter Kriemler SELLER: Perry Haberman BUYER'S REP: Dan Kaplan (@DKap24) & Justin Arzi - CBRE SELLER'S REP: Hunter Moss (@HunterlMoss) (@BuildingInvestmentSales) - Cushman & Wakefield SALE PRICE: $17,500,000 SF: 9,302 ~ PPSF: $1,881

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
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