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29 Leonard St, New York, NY...

Updated Oct 29, 2024

Silvera Properties Acquires Mixed-Use Property In Tribeca For $24.5M
SOLDMixed-use

Silvera Properties Acquires Mixed-Use Property In Tribeca For $24.5M

29 Leonard St, New York, NY 10013, USA

Building Size

29,500 SF

Asset Type

Mixed-use

Closing

Jul 10, 2018

About this deal

AI

In a recent transaction in Tribeca, a mixed-use property located at 29-31 Leonard and 198 W. Broadway was sold for a price of $24,500,000. The property, which spans 29,500 square feet, underwent a residential condominium conversion. This deal was facilitated by the seller, Transit Trading Corporation, represented by Gilda Tenenbaum, and the buyer, Silvera Properties.

Summary of transaction details

  • Property Type: Mixed Use
  • Transaction Amount: $24,500,000
  • Square footage: 29,500
  • Address: 29-31 Leonard and 198 W. Broadway, New York
  • Market: Tribeca
  • Seller: Transit Trading Corporation – Gilda Tenenbaum
  • Buyer: Silvera Properties
  • Seller Representative: Glenn Tolchin, Yoav Oelsner, and Anthony Ledesma from JLL

The deal was facilitated by JLL, with Glenn Tolchin, Yoav Oelsner, and Anthony Ledesma representing the seller, Transit Trading Corporation. This transaction highlights the successful collaboration between the buyer, Silvera Properties, and their trusted representatives.

Players

SP
Silver PropertiesBuyer

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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