facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Sale

/

897 8th Avenue

Regal Ventures Acquires Retail Property In Midtown West For $35.3M
SOLDRetail

Regal Ventures Acquires Retail Property In Midtown West For $35.3M

897 8th Avenue

$35,250,000

$948/SF

Building Size

37,165 SF

Asset Type

Retail

Closing

Sep 23, 2022

AI

Located in Midtown West, the retail property at 897 8th Ave. has been sold for a price of $35,250,000. The property spans across 37,165 square feet, resulting in a price per square foot of $948. The transaction took place on 09/23/2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $35,250,000
  • Address: 897 8th Ave.
  • Market: Midtown West

The buyer of the property is Regal Ventures, while PGIM and Madison Capital served as the sellers. The deal was facilitated by Andrew Berry, Josh King, and Charlie Gravina from Cushman & Wakefield.

Players

Charlie Gravina

Cushman & Wakefield

Broker

$280.6M

vol

21 deals

Broker
Regal Ventures
Regal VenturesBrokerage
PGIM
PGIM Seller
PGIM
PGIM Lender

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

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93