Acadia Realty Trust And Hilltop RE Purchase Retail Asset From Naftali Group For $20.75M
SOLD
$20,750,000
New York
See Similar DealsRetail6,102 SF
Sold
SOLD
Acadia Realty Trust And Hilltop RE Purchase Retail Asset From Naftali Group For $20.75M
1045 Madison Avenue & 1165 Madison Avenue
See Similar DealsRetail6,102 SF
Sold
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$3400
Total Square Footage:6102 SF
Transaction Type:Sale
The transaction involves retail properties located at 1045 Madison Avenue and 1165 Madison Avenue in the Upper East Side market. The sale price was $20,750,000 for a total of 6,102 square feet, translating to a price per square foot of $3,400.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $20,750,000
- Buyer: Acadia Realty Trust & Hilltop RE
- Seller: Naftali Group
- Brokers: Brandon Polakoff & Brent Glodowski - Avison Young
The deal features Acadia Realty Trust and Hilltop RE as the buyer entities, acquiring the properties from the Naftali Group, with Brandon Polakoff and Brent Glodowski representing the interests of the buyer in this transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,106,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$73,720.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$98,365.59
Annual Debt Service$1,180,387.03
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