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Mixed Use

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61 63 Crosby Street

Updated Jan 19, 2026

Olmstead Properties Acquires Mixed-Use Asset From Blackstone And L3 Capital For $53M In Soho
SOLDMixed-use

Olmstead Properties Acquires Mixed-Use Asset From Blackstone And L3 Capital For $53M In Soho

61 63 Crosby Street

$53,000,000

$1,635/SF

Building Size

32,400 SF

Asset Type

Mixed-use

Closing

Jan 7, 2026

About this deal

AI

The mixed-use asset located at 61-63 Crosby Street in Soho, Manhattan was sold for $53,000,000. The property encompasses a total area of 32,400 square feet, equating to a price per square foot of $1,635.

Summary of transaction details:

The transaction involved multiple key players from Newmark, with notable representatives including Adam Spies, Brett Siegel, and Douglas Harmon among others. The brokers played a crucial role in facilitating the deal between the buyer and the seller, ensuring all aspects of the transaction were addressed efficiently.

Players

Adam Doneger

Newmark

Broker

$52.1B

vol

196 deals

Broker
Avery Silverstein
Verified Badge

Avery Silverstein

Newmark

Broker

$15.1B

vol

65 deals

Broker
Newmark
NewmarkBrokerage
L3 Capital
L3 CapitalSeller

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $1.6K per square foot on a published $53M for 32,400 square feet (2026).

Visit Benjamin (Ben) Lushing 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

0.30%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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