Tokyo Trust Capital Co. & MCRE Acquire Mixed-Use Property In Soho For $103.5M
434 Broadway, New York, NY 10013, USA
$103,500,000
$168/SF
Building Size
615,000 SF
Asset Type
Mixed-use
Closing
Jan 16, 2019
About this deal
AI
The mixed-use property located at 434 Broadway in Soho has been sold for a price of $103,500,000. With a total area of 61,500 square feet, the property is valued at $1,682 per square foot. The transaction took place on January 17, 2019.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $103,500,000
- Address: 434 Broadway
- Market: Soho
- Square Footage: 61,500
- Price per Square Foot: $1,682
The buyer of the property is Tokyo Trust Capital Co. & MCRE, represented by Steve Grant & Andy Nathan. The seller of the property is Savanna. The deal was facilitated by Evan Layne and Brett Siegel from Newmark Knight Frank.
It is worth noting that Savanna originally purchased the property for $62 million in 2013.
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93