Vornado Capital Partners Sells SoHo Retail Condo On Broadway For $27.5M
501 Broadway, Manhattan, New York, NY, USA
$27,500,000
$7,515/SF
Building Size
3,659 SF
Asset Type
—
Closing
Dec 10, 2021
About this deal
AI
The retail condo located at 501 Broadway in SoHo has been sold for $27,500,000. The property consists of a retail space of 3,659 square feet on the ground floor, along with an office space of 4,964 square feet and a storage space of 682 square feet. The transaction took place in December 2021.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $27,500,000
- Address: 501 Broadway, SoHo
- Market: SoHo
- Asset Type: Retail Condo
- Square Footage: 3,659
The sale was facilitated by the brokers James Nelson, Brent Glodowski, and Eric Karmitz from Avison Young. The seller was Vornado Capital Partners. The retail condo includes not only the ground floor retail space but also an office space measuring 4,964 square feet and a storage space of 682 square feet.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93