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:
- Property Type: Retail
- Transaction Amount: $13,500,000.00
- Address: 976 6th Ave, New York, NY, 10018
- Market: New York
- Seller's Representatives: Lou Magarelli, Craig Waggner-Cushman & Wakefield, Doug Blankrot, John Ciraulo-Cushman & Wakefield
- Buyer: Unknown
- Seller: Undisclosed
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
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