Jamie Berenger Acquires Mixed-Use Building At 535 Broadway In SoHo For $23M
535 Broadway
$23,000,000
$1,936/SF
Building Size
11,875 SF
Asset Type
Mixed-use
Closing
Dec 6, 2023
AI
A five-unit mixed-use building located at 535 Broadway in SoHo, Manhattan has been sold for $23,037,736. The property is situated in a prime location in the SoHo market, known for its vibrant art scene and trendy shopping district. Spanning a total square footage of 11,875, the building offers a diverse range of residential and commercial spaces, making it an attractive investment opportunity. With a price per square foot of $1,940, the property's sale price also reflects its desirability in the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $23,037,736
- Address: 535 Broadway
- Market: SoHo, Manhattan
- Seller: Continental Equities Group
- Buyer: Jamie Berenger
Jamie Berenger, represented by their broker, was the buyer in this transaction. The seller, Continental Equities Group, successfully closed the deal with A10 Cap Reo-535 Broadway, LLC. This acquisition further demonstrates the robust real estate market in SoHo, with investors recognizing the value and potential of mixed-use properties in the area.
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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93