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61 63 Crosby Street

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

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

$50.5B

vol

192 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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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