Michael Alvandi Of City Urban Realty Purchases Retail Property At 83 Thompson Street For $5.6M
83 Thompson Street
$5,600,000
$2,251/SF
Building Size
2,487 SF
Asset Type
Condo
Closing
Sep 19, 2025
About this deal
AI
The retail property at 83 Thompson Street in SoHo, Manhattan, has a sale price of $5,600,000. This property spans 2,487 square feet, making the price per square foot $2,252.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,600,000
- Address: 83 Thompson Street
- Market: SoHo, Manhattan
- Square Footage: 2,487
- Price per Square Foot: $2,252
- Buyer: Michael Alvandi - City Urban Realty
- Seller: Brian Shatz & Josh Zegen - Madison Realty Capital; Abe Shnay & Scott Shnay - SK Development & CB Developers
The transaction involved buyer Michael Alvandi representing City Urban Realty, acquiring the property from a group of sellers that includes Brian Shatz and Josh Zegen from Madison Realty Capital, alongside Abe Shnay and Scott Shnay from SK Development and CB Developers.
On the Map
$5,600,000
$2,251/SF
Condo
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93