Hung & Abdalla Gallery Acquires Retail Condominium In NoLiTa For $1.94M
381 Broome St, Manhattan, New York, NY, USA
$1,940,000
$1,332/SF
Building Size
1,456 SF
Asset Type
Mixed-use
Closing
Jan 30, 2021
AI
A retail condominium located at 381 Broome St. in NoLiTa has been sold for $1,940,000. The property spans 1,456 square feet, resulting in a price per square foot of $1,332. The transaction took place on January 31, 2021.
Summary of transaction details
- Property Type: Retail Condominium
- Transaction Amount: $1,940,000
- Address: 381 Broome St.
- Market: NoLiTa
- Square Footage: 1,456
- Price per Square Foot: $1,332
The buyer of the retail condominium was Hung & Abdalla Gallery, while the seller was Steven Hudson. Nelson Wei from Borders Real Estate represented the buyer, and Hilly Soleiman & Ron Cohen from esenPartners represented the seller in 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
8.18%
Cash-on-Cash
-2.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93