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381 Broadway

Churchill Real Estate Sells Office Mixed-Use Building In Tribeca For $16.75M
SOLDMixed-use

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

Dan Soyak

Cushman & Wakefield

Broker

$115.8M

vol

14 deals

Broker
Venture Capital Properties
Venture Capital PropertiesBrokerage
Churchill Real Estate
Churchill Real EstateSeller
Churchill Real Estate
Churchill Real EstateLender

Market Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

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