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Dalan Management Acquires Mixed-use Property On Broadway For $66M

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SOLD
$66,000,000

New York

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Mixed-use79,575 SF
Sold 06/15/2018
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Property Image
SOLD

Dalan Management Acquires Mixed-use Property On Broadway For $66M

2568 Broadway, Upper West Side, New York, NY, USA

See Similar Deals
Mixed-use79,575 SF
Sold 06/15/2018
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$829
Total Square Footage:79,575 SF
Transaction Type:Sale

Dalan Management, led by Daniel and Andy Wrublin, has acquired a mixed-use property located at 2568-2574 Broadway in New York City. The property, situated at the intersection of 97th Street and Broadway in the C4-6A zoning district, spans a total of 79,575 square feet. The transaction was facilitated by John Florek of HPNY, who represented the buyer.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $66,000,000
  • Address: 2568-2574 Broadway, New York City
  • City: New York City
  • Streets: 97th & Broadway
  • Zoning: C4-6A
  • Buyer: Dalan Management - Daniel and Andy Wrublin
  • Seller: AAG Management - Arnold Gumowitz
  • Broker: John Florek - HPNY
  • Square Footage: 79,575
  • Price per Square Foot: $829
  • Unit Mix: 67 residential, 3 commercial

The acquisition of this property marks an important investment for Dalan Management, further expanding their portfolio in New York City. The deal was facilitated by John Florek of HPNY, ensuring a successful transaction for both the buyer and the seller. With its prime location and mixed-use nature, this property presents significant potential for Dalan Management in terms of rental income and future development opportunities.

Players

John Florek
13 deals$264.7M volume
BROKER

Daniel (Danny) Wrublin
Dalan Management
5 deals$90.1M volume
BUYER

Dalan Management
BUYER

Details

SOLD
IMAGE: Daniel Wrublin (@Dwrublin), Ivan Hakimian and John Florek (@SognoStudio) DATE: 6/15/18 ADDRESS: 2568-2574 Broadway CITY: MARKET: X STREETS: 97th & Broadway ~ ZONING: C4-6A ASSET TYPE: Mixed-use BUYER: Dalan Management - Daniel and Andy Wrublin (@Andy_Wrublin) SELLER: AAG Management - Arnold Gumowitz BROKER: John Florek (@sognostudio) - HPNY (@hpny_) PRICE: $66,000,000 SF: 79,575 ~ PPSF: $829 UNIT MIX : 67 RESI, 3 COMM (@BankOfAmerica & @parisbaguette_usa and @DunkinDonuts are tenants)

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,520,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$234,484.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$312,873.67
Annual Debt Service$3,754,484.06