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976 6th Ave, New York, NY, ...

Unknown Buyer Acquires Property At 976 6th Ave In New York For $13.5M
SOLDRetail

Unknown Buyer Acquires Property At 976 6th Ave In New York For $13.5M

976 6th Ave, New York, NY, 10018

$13,500,000

Building Size

Asset Type

Retail

Closing

Nov 19, 2023

AI

The transaction involved the sale of a three-story retail building located at 976 6th Ave, New York, NY, 10018. The property was sold for $13,500,000.00 and has a square footage of 0. It is fully leased to tenants including 5 Boro Burger and Red Rocket Tattoo.

Summary of transaction details:

Cushman & Wakefield played a pivotal role in the transaction, with John Ciraulo, Craig Waggner, Doug Blankrot, and Lou Magarelli representing the undisclosed seller. The buyer remains unidentified in this deal.

Players

John Ciraulo

Cushman & Wakefield

Broker

$747.3M

vol

48 deals

Broker

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

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93