facebook
Traded Co logo
Submit

Marvin Azrak & Max Silverman Sell Self Storage Asset At 1587 3rd Avenue For $9.5M

Property Image
SOLD
$9,500,000
Brandon Polakoff
Ryan McGuirl
+ 1

New York

See Similar Deals
Self Storage15,750 SF
Sold 08/21/2024
the dealplayerscompscontact
Property Image
SOLD

Marvin Azrak & Max Silverman Sell Self Storage Asset At 1587 3rd Avenue For $9.5M

1587 3rd Avenue

See Similar Deals
Self Storage15,750 SF
Sold 08/21/2024
Brandon Polakoff
Ryan McGuirl
+ 1
Contact now

Summary

NEW YORK
Asset Type:Self Storage
Price Per Square Foot:$603
Total Square Footage:15,750 SF
Transaction Type:Sale

The asset involved in this transaction is a self-storage property located at 1587 3rd Avenue in the Upper East Side market. The property spans approximately 15,750 square feet and was sold for a total price of $9,500,000, which results in a price per square foot of $603.

Summary of transaction details:

This transaction involved prominent sellers Marvin Azrak and Max Silverman, who facilitated the sale. The brokers representing the deal were a team from Avison Young, which included Brandon Polakoff, Noah Kossoff, Ryan McGuirl, Kyle Sabath, and Fritz Richter, highlighting the collaboration among experienced professionals in the real estate industry.

Players

Noah Kossoff
35 deals$385.1M volume(917) 880-1475
BROKER

Brandon Polakoff
Avison Young
124 deals$1.8B volume
BROKER

Ryan McGuirl
Avison Young
60 deals$804.5M volume(212) 858-9361
BROKER

Kyle Sabath
Avison Young
17 deals$200.5M volume(212) 729-6279
BROKER

Details

SOLD
IMAGE: Marvin Azrak, Max Silverman, Brandon Polakoff, Noah Kossoff, Ryan McGuirl & Kyle Sabath DATE: 08/21/2024 ADDRESS: 1587 3rd Avenue MARKET: Upper East Side ASSET TYPE: Self Storage SELLER: Marvin Azrak & Max Silverman BROKERS: Brandon Polakoff (@BFPolly), Noah Kossoff (@Noah_Kossoff), Ryan McGuirl (@RMac_NYC), Kyle Sabath & Fritz Richter - Avison Young (@Avison_Young_Global) SALE PRICE: $9,500,000 SF: 15,750 ~ PPSF: $603

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$506,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16