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325 Greenwich Street, New Y...

Josh Greenberg & Frederick Rudd Acquire TriBeCa Mixed-Use Property For $7.3M
SOLDMixed-use

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

Ido Tzaidi

IDRE Commercial Realty

Broker

$47.6M

vol

3 deals

Broker
Josh Greenberg

Josh Greenberg

Rudd Realty Management

Buyer

$63.5M

vol

5 deals

Buyer

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