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
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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93