David Friedman Of Premier Equities Acquires Office Building From Rami Haddad For $31.6M
1220 Broadway
$31,600,000
$418/SF
Building Size
75,547 SF
Asset Type
Office
Closing
Feb 2, 2026
About this deal
AI
The asset involved in the transaction is an office building located at 1220 Broadway, NoMad, Manhattan. This property has a total square footage of 75,547 and was sold for a price of $31,600,000, reflecting a price per square foot of $418.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $31,600,000
- Address: 1220 Broadway
- Market: NoMad, Manhattan
- Square Footage: 75,547
- Price per Square Foot: $418
- Buyer: David Friedman - Premier Equities
- Seller: Rami Haddad - Haddad Brands
David Friedman, representing Premier Equities, acquired the property through Premier 1220 Broadway LLC, while Rami Haddad represented Haddad Brands via New Generation Realty LLC. The transaction was aimed at securing a cash-flowing investment for the buyer.
On the Map
$31,600,000
$418/SF
Office
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Players
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Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93