Cord Ernst And Aaron Bothner Of Pamera North America Acquire Mixed-Use Property At 640 Broadway For $30.5M
640 Broadway
$30,500,000
$570/SF
Building Size
53,439 SF
Asset Type
Mixed-use
Closing
Sep 4, 2025
About this deal
AI
The property asset involved in this transaction is a mixed-use building located at 640 Broadway in the NoHo market. The building encompasses a total area of 53,439 square feet, which includes 21 residential units and ground floor retail space that fronts Bleecker and Broadway.
Summary of transaction details:
- Property Type: Mixed-use, Multi-Housing & Retail
- Transaction Amount: $30,500,000
- Loan Type: Acquisition
- Lender: Citi Private Bank
- Landlord: Cord Ernst & Aaron Bothner - Pamera North America & David Gleitman & Adam Basuljevic - TARGO Capital Partners
- Brokers: Michael Gigliotti, Stephen Van Leer & John Flynn - JLL
The key individuals involved in this transaction include the borrower team from Pamera North America, represented by Cord Ernst and Aaron Bothner, as well as the Targo Capital Partners team comprising David Gleitman and Adam Basuljevic. The lending was conducted on behalf of Citi Private Bank.
On the Map
$30,500,000
$570/SF
Mixed-use
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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
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93