SOLDMixed-use
Javeri Capital, HudsonPoint Group Acquires Mixed-use Property In SoHo For $11.2M
33-35 Howard Street, Manhattan, New York, NY, USA
$11,200,000
$448/SF
Building Size
25,000 SF
Asset Type
Mixed-use
Closing
Jun 16, 2021
About this deal
AI
The mixed-use property located at 33-35 Howard Street in SoHo has been sold in a recent transaction. The property features a total building square footage of 25,000 and a price per square foot of $448. The sale price for the property was $11,200,000, and it has a total lot size of 15,900 square feet with a price per square foot of $704. The former home of @OpeningCeremony, this property offers a unique investment opportunity in a prime location.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $11,200,000
- Address: 33-35 Howard Street
- Market: SoHo
- BSF: 25,000
- PPBSF: $448
- SF: 15,900
- PPSF: $704
The buyer of the property is Javeri Capital, represented by Atit Javeri, and HudsonPoint Group, represented by Jason Schottenfeld and Matthew Pazzaglini. The seller is Jeffrey Spitzer of Jergil Mfg. Corp. The transaction was facilitated by brokers Josh Goldflam and Charles Chang from Highcap Group. This successful deal brings together key individuals and companies in the real estate industry, providing a testament to their expertise and negotiation skills.
On the Map
$11,200,000
$448/SF
Mixed-use
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Players
Maxim Capital GroupLender
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
1.42%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93