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Dax Real Estate Purchases Multifamily Property At 385 Broome Street Little Italy For $10.94M

Property Image
SOLD
$10,938,888
Peter Dodge
Logan Markley
+ 2

New York

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MultiFamily13,000 SF
Sold 07/24/2025
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Property Image
SOLD

Dax Real Estate Purchases Multifamily Property At 385 Broome Street Little Italy For $10.94M

385 Broome Street

See Similar Deals
MultiFamily13,000 SF
Sold 07/24/2025
Peter Dodge
Logan Markley
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$841
Total Square Footage:13,000 SF
Transaction Type:Sale

The property involved in the transaction is a multifamily asset located at 385 Broome Street, in the Little Italy neighborhood of Manhattan. The sale price was $10,938,888 for the 13,000 square feet building, which comprises 7 units, resulting in a per unit price of $1,562,698 and a price per square foot of $841.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $10,938,888
  • Units: 7
  • Square Feet: 13,000
  • Price per Unit: $1,562,698
  • Price per Square Foot: $841

The buyer of the property is Dax Real Estate, while the seller's representative for the transaction was Anne Chang from Jade Stone Real Estate. The brokers involved in this deal were Joseph Koicim, Peter Dodge, and Logan Markley, all from Marcus & Millichap, alongside Daniel Hedaya from Dax Real Estate.

Players

Logan Markley
70 deals$970.7M volume(212) 430-5194
BROKER

Joseph (Joe) Koicim
Marcus & Millichap
172 deals$2.7B volume(212) 430-5147
BROKER

Peter Dodge
Marcus & Millichap
21 deals$203.4M volume(212) 430-5231
BROKER

Daniel Hedaya
DAX Real Estate
15 deals$79.7M volume
BROKER

Anne Chang
Jade Stone Real Estate
3 deals$26.3M volume(917) 494-0531
BROKER

Marcus & Millichap
BROKERAGE


Details

SOLD
IMAGE: Peter Dodge, Joseph Koicim, Logan Markley & Daniel Hedaya DATE: 7/24/2025 ADDRESS: 385 Broome Street MARKET: Little Italy, Manhattan ASSET TYPE: Multifamily BUYER: Dax Real Estate SELLER'S REP: Anne Chang (@AnneChangNYC) - Jade Stone Real Estate (@JadeStoneRealEstateNYC) BROKERS: Joseph Koicim (@Joey1Cap), Peter Dodge (@PxDodge), Logan Markley (@LogantMarkley) - Marcus & Millichap (@MarcusMillichapInc) & Daniel Hedaya - DAX Real Estate SALE PRICE: $10,938,888 UNITS: 7 ~ PPU: $1,562,698 SF: 13,000 ~ PPSF: $841

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$583,407.36

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$38,863.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$51,855.91
Annual Debt Service$622,270.92