James D. Ryan III's RYCO Capital Acquires Retail And Office Condo In SoHo, Manhattan For $13.2M
414 West Broadway
$13,200,000
$953/SF
Building Size
13,850 SF
Asset Type
Condo
Closing
Aug 8, 2023
AI
Ryco Capital's West Lake 414-416 West Broadway LLC has acquired a retail and office condo at 414 West Broadway in SoHo, Manhattan. The property, sold by Valerie Berk's Valroge Corporation, was purchased for a total price of $13.2 million. The condo spans a total area of 13,850 square feet, resulting in a price per square foot of $953.
Summary of transaction details
- Property Type: Condo (Retail & Office)
- Transaction Amount: $13,200,000
- Address: 414 West Broadway, SoHo, Manhattan
- Buyer: James D. Ryan III - RYCO Capital
- Seller: Valerie Berk
- Square Footage: 13,850 SF
- Price per Square Foot: $953
The acquisition of the retail and office condo at 414 West Broadway was made by Ryco Capital's West Lake 414-416 West Broadway LLC. The company, led by James D. Ryan III, completed the purchase from Valerie Berk's Valroge Corporation for a total of $13.2 million. This strategic move expands Ryco Capital's presence in the SoHo, Manhattan market and offers potential opportunities for future growth and development.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93