Josh Greenberg & Frederick Rudd Acquire TriBeCa Mixed-Use Property For $7.3M
325 Greenwich Street, New York, NY 10013, USA
$7,300,000
$620/SF
Building Size
11,762 SF
Asset Type
Mixed-use
Closing
Jan 22, 2019
AI
Located in the vibrant TriBeCa neighborhood, the mixed-use property at 325-327 Greenwich St. recently changed hands in a closed transaction. The property spans an impressive 11,726 square feet and was sold for a total of $7.3 million, translating to a price per square foot of $622.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7.3M
- Address: 325-327 Greenwich St., TriBeCa
- Market: TriBeCa
The seller of the property was Peter F. Matera, while the buyers were Josh Greenberg and Frederick Rudd, representing Rudd Realty Mgmt. Corp. The transaction was facilitated by brokers Ido Tzaidi from Epic.Commercial.Realty and Tal Sharon from TalNYC212.
Notably, all four retail spaces within the property were either vacant or on a month-to-month tenancy at the time of the sale. It is important to highlight that this transaction was conducted off-market, showcasing the efficacy of the parties involved in completing the deal.
Players
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
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93