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888 Broadway

Updated Feb 19, 2025

Cannon Hill Capital Partners And Global Holdings Acquire Mixed-Use Asset From Invesco For $200 Million
SOLDMixed-use

Cannon Hill Capital Partners And Global Holdings Acquire Mixed-Use Asset From Invesco For $200 Million

888 Broadway

$200,000,000

$900/SF

Building Size

222,222 SF

Asset Type

Mixed-use

Closing

Feb 10, 2025

About this deal

AI

The property asset involved in this transaction is located at 888 Broadway within the Flatiron District. It encompasses a mixed-use development and has a total square footage of 222,222. The sale price of the property was $200,000,000, resulting in a price per square foot of $900.

Summary of transaction details:

This transaction involved Cannon Hill Capital Partners and Global Holdings as the buyers, with Invesco as the seller. The deal was facilitated by a team of brokers from Newmark, comprising Adam Spies, Adam Doneger, Avery Silverstein, Joshua King, Marcella Fasulo, and Meaghan Philbin.

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$200,000,000

$900/SF

Mixed-use

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Players

Adam Doneger

Newmark

Broker

$54.8B

vol

199 deals

Broker
Avery Silverstein
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Avery Silverstein

Newmark

Broker

$15.1B

vol

66 deals

Broker
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New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $900 per square foot on a published $200M for 222,222 square feet (2025).

Visit Meaghan Philbin to view all their deals.

Browse New York mixed use sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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