HC Management Acquires Mixed-Use Property In Manhattan For $7M

The mixed-use property located at 215 East Broadway in Manhattan, New York, has been sold in a closed transaction. The property spans 8,500 square feet and was sold for a price of $7,000,000, translating to a price per square foot of $823. The transaction involved Penn South Capital as the seller and HC Management – Hui Wang as the buyer.

Summary of transaction details

• Property Type: Mixed-Use
• Transaction Amount: $7,000,000
• Square Footage: 8,500 sf
• Price per Square Foot: $823
• Seller: Penn South Capital
• Buyer: HC Management – Hui Wang
• Market: Manhattan

Penn South Capital, the seller in this transaction, purchased six buildings in 2016 and 2017, and had signed three contracts in 2018. They handled the entire process in-house, from finding and negotiating the deal to obtaining the mortgage for this property. The transaction showcases the expertise and capabilities of Penn South Capital in navigating the real estate market.