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993-999 3rd Avenue

Brandon Polakoff And Team Of Avison Young Sell Retail Property At 993-999 3rd Avenue For $11.7M
SOLDRetail

Brandon Polakoff And Team Of Avison Young Sell Retail Property At 993-999 3rd Avenue For $11.7M

993-999 3rd Avenue

$11,700,000

$377/SF

Building Size

31,030 SF

Asset Type

Retail

Closing

Sep 28, 2024

AI

The retail property located at 993-999 3rd Avenue in the Lenox Hill, Manhattan market has been sold for $11,700,000. This asset boasts a total square footage of 21,030, resulting in a price per square foot of $556.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $11,700,000
  • Address: 993-999 3rd Avenue
  • Market: Lenox Hill, Manhattan
  • Square Footage: 21,030
  • Price Per Square Foot: $556

The transaction involved multiple representatives from Avison Young, including Brandon Polakoff, James Nelson, Brent Glodowski, Edward Nelson, and Kyle Sabath, who facilitated the deal on behalf of their clients.

Players

Brandon Polakoff

Avison Young

Broker

$1.8B

vol

124 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

1.36%

Cash-on-Cash

-0.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93