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
About this deal
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.
On the Map
$13,500,000
Retail
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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