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570 Washington St, New York...

Atlas Capital Group & Zeckendorf Development Acquires Mixed-Use Property In West Village, Manhattan For $350M
SOLDMultiFamily

Atlas Capital Group & Zeckendorf Development Acquires Mixed-Use Property In West Village, Manhattan For $350M

570 Washington St, New York City, New York 10014, United States

$350,000,000

$1,750/SF

Building Size

200,000 SF

Asset Type

MultiFamily

Closing

Feb 8, 2022

AI

570 Washington Street, a mixed-use property located in the West Village of Manhattan, has been sold in a closed transaction. The property spans across 1.3 acres, making it a significant asset in the area.

Summary of transaction details:

  • Property Type: Mixed-use
  • Sale Price: $350,000,000
  • Date: 02/09/2022
  • Market: West Village, Manhattan
  • Buyer: Atlas Capital Group & Zeckendorf Development
  • Seller: Westbrook Partners
  • Brokers: Adam Spies, Adam Doneger & Doug Harmon - Cushman & Wakefield

In this transaction, the buyer, comprised of Atlas Capital Group and Zeckendorf Development, acquired 570 Washington Street from the seller, Westbrook Partners. The deal was facilitated by brokers Adam Spies, Adam Doneger, and Doug Harmon from Cushman & Wakefield.

Players

Adam Doneger

Newmark

Broker

$50.2B

vol

190 deals

Broker
Adam Spies
Verified Badge

Adam Spies

Newmark

Broker

$71.8B

vol

263 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage
Atlas Capital Group
Atlas Capital GroupBuyer
Westbrook Partners
Westbrook PartnersSeller
Westbrook Partners
Westbrook PartnersLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.05%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93