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1367 1369 Broadway

Jonathan Slager Of Bridge Investment Group Acquires Office Building From Joshua Goldberg For $5M
SOLDOffice

Jonathan Slager Of Bridge Investment Group Acquires Office Building From Joshua Goldberg For $5M

1367 1369 Broadway

$5,000,000

$243/SF

Building Size

20,500 SF

Asset Type

Office

Closing

May 14, 2025

AI

Bridge Investment Group acquired an office building located at 1367-1369 Broadway in the Garment District of Manhattan. The property encompasses 20,500 square feet and was purchased for $5,000,000. This transaction occurred during a foreclosure auction on May 14, 2025, following a prior $30.3 million loan default.

Summary of transaction details:

In this transaction, Jonathan Slager represented the buyer, Bridge Investment Group, while Joshua Goldberg represented the seller, Goldberg Group. The foreclosure auction facilitated the transfer of ownership, marking a significant shift in property control within the market.

Players

Brooklyn Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93