Hung & Abdalla Gallery Acquires Retail Condominium In NoLiTa For $1.94M
SOLD
$1,940,000
+ 1
New York
See Similar DealsMixed-use1,456 SF
Sold 01/31/2021
SOLD
Hung & Abdalla Gallery Acquires Retail Condominium In NoLiTa For $1.94M
381 Broome St, Manhattan, New York, NY, USA
See Similar DealsMixed-use1,456 SF
Sold 01/31/2021
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,332
Total Square Footage:1,456 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$103,466.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,892.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,196.59
Annual Debt Service$110,359.08
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