BFC Partners Acquires Mixed-Use Project In Manhattan For $260M
202 Broome St, New York, NY 10002, USA
$260,000,000
$1,203/SF
Building Size
216,122 SF
Asset Type
Mixed-use
Closing
Apr 16, 2018
About this deal
AI
The mixed-use project located at 202 Broome Street in Manhattan, NY has recently undergone an acquisition and construction loan financing. The project encompasses a total of 216,122 square feet and is valued at $260 million. The all-in price per square foot stands at $1,203.
Summary of transaction details
- Property Type: Mixed-use project
- Transaction Amount: $260 million
- SF: 216,122 sf
- ALL IN PPBSF: $1,203
- Address: 202 Broome Street, Manhattan, NY
Leading the development is BFC Partners, with Don Capoccia as one of the key figures involved. The project has attracted the attention of notable individuals including Craig Solomon, Ron Moeli, Charles R. Bendit, Lloyd Blankfein, Michael Gigliotti, Evan Pariser, and Scott Aiese. These individuals have played a crucial role in the successful completion of this transaction.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93