Genghis Hadi’s Nahla Capital has acquired 1122 Madison Avenue from Premier Equities and Thor for $22.5 million, according to public records. The retail property spans 4,200 SF, which is divided evenly between the ground floor and lower level. It’s located between East 83rd and 84th Streets, and features 18,380 SF of unused air rights.
Acquisition financing: Nahla secured an $18 million loan from Deutsche Bank to close the deal.
Flashback: The sellers paid $13 million for the property in 2012. Premier had a 67.5 percent interest in the asset, while Thor owned a minority stake.