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John Gore Organization Acquires Billboard Rights At 1619 Broadway From Mack Real Estate Group For $12.2M
SOLD
$12,200,000
New York
See Similar DealsCommercial
Sold 10/24/2025
SOLD
John Gore Organization Acquires Billboard Rights At 1619 Broadway From Mack Real Estate Group For $12.2M
1619 Broadway
See Similar DealsCommercial
Sold 10/24/2025
Summary
NEW YORK
Asset Type:Commercial
Transaction Type:Sale
A billboard and exterior signage rights transaction took place at 1619 Broadway in the Times Square market. The sale price for the asset was $12,200,000.
Summary of transaction details:
- Property Type: Billboard
- Transaction Amount: $12,200,000
- Buyer: John Gore - The John Gore Organization
- Seller: Richard Mack - Mack Real Estate Group
The John Gore Organization acquired the rights atop the historic Brill Building, representing a significant investment given the recent transaction involving an entire floor in the same property, which sold for $6.8 million.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$650,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,344.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,834.22
Annual Debt Service$694,010.69
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