Brandon Polakoff And Team Of Avison Young Sell Retail Property At 993-999 3rd Avenue For $11.7M
SOLD
$11,700,000
+ 2
New York
See Similar DealsRetail31,030 SF
Sold
SOLD
Brandon Polakoff And Team Of Avison Young Sell Retail Property At 993-999 3rd Avenue For $11.7M
993-999 3rd Avenue
See Similar DealsRetail31,030 SF
Sold
+ 2
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$377
Total Square Footage:31,030 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$624,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,567.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,463.97
Annual Debt Service$665,567.63
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