Churchill Real Estate Sells Office Mixed-Use Building In Tribeca For $16.75M
381 Broadway
$16,750,000
$930/SF
Building Size
18,000 SF
Asset Type
Mixed-use
Closing
Apr 13, 2023
AI
The recently closed transaction in Tribeca involved a mixed-use office property located at 381 Broadway. The property spans across 18,000 square feet and was sold for a total price of $16,750,000, resulting in a price per square foot of $931.
Summary of transation details
- Property Type: Office Mixed-Use
- Transaction Amount: $16,750,000
- Address: 381 Broadway
- Market: Tribeca
Churchill Real Estate acted as the seller in this transaction. The buyer was represented by Anna Shagalov and Bo Poulsen from Brown Harris Stevens, as well as Joshua Malekan from Venture Capital Properties. On the seller's side, the representatives were Maurice Suede and Dan Soyak from Cushman & Wakefield.
Players
Market 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
0.95%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93