Albert Rabizadeh Acquires Retail Condominium At 172 Madison Avenue From ArcPe For $10.12M

The retail condominium at 172 Madison Avenue was sold for $10,120,000. It encompasses a total area of 6,400 square feet, with a price per square foot of $1,581. The property is located in Manhattan and was sold following a complex bankruptcy due to the foreclosure of a condominium inventory loan, with pricing approximating $2,306 psf at grade.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $10,120,000
• Address: 172 Madison Avenue
• Market: Manhattan
• Square Footage: 6,400
• Price per Square Foot: $1,581
• Buyer: Albert Rabizadeh
• Seller: ArcPe
• Brokers: Adam Steiner & Eric Michael Anton - Marcus & Millichap; David Tobin, James Gosse & Alex Draganiuk - Mission Capital Advisors

This transaction involved key brokerage professionals, including Adam Steiner and Eric Michael Anton from Marcus & Millichap, and David Tobin, James Gosse, and Alex Draganiuk from Mission Capital Advisors, who represented the respective parties in this complex deal.