Stellar Management Acquires Mixed-Use Property In Hamilton Heights, NY For $26.2M
3430 Broadway, New York, NY 10031, USA & 3430 Broadway, New York, NY 10031, USA
Building Size
730,000 SF
Asset Type
Mixed-use
Closing
Jun 11, 2018
About this deal
AI
3430 Broadway X, located at West 140th Street in Hamilton Heights, NY, has been sold in a closed transaction for a price of $26,200,000. This mixed-use property spans across an impressive 73,000 square feet, offering a diverse range of residential and retail spaces. With a price per square foot of $359, this property presents a lucrative investment opportunity. The deal involves 55 units in total.
Summary of Transaction Details
- Property Type: Mixed-Use Residential and Retail
- Transaction Amount: $26,200,000
- Address: 3430 Broadway X, West 140th Street, Hamilton Heights, NY
- Market: Hamilton Heights, NY
- Date: 06/26/2018
- Square Footage: 73,000
- Price per Square Foot: $359
- Number of Units: 55
Woodcrest Management, the seller of the property, has successfully completed the transaction with the buyer, Stellar Management. Acting as brokers in the deal were Robert Shapiro and Eric Roth of Cushman & Wakefield.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93