Jacob Aini Of Aini Assets Acquires 70% Stake In Office Building At 447 Broadway For $10.5M
447 Broadway
$10,500,000
$420/SF
Building Size
25,000 SF
Asset Type
Office
Closing
Feb 27, 2025
About this deal
AI
The transaction involves a 25,000 sq. ft. office building located at 447 Broadway in SoHo, Manhattan. Jacob Aini’s Aini Assets acquired a 70% stake in the property for a total of $10,500,000, while Eli and Isaac Chetrit were the sellers of this stake. The deal included $13.6 million in debt held by BH Capital FL LLC.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $10,500,000
- Buyer: Jacob Aini - Aini Assets
- Seller: Eli Chetrit & Isaac Chetrit
- Stake Percentage: 70%
- Address: 447 Broadway
- Market: SoHo, Manhattan
- Debt Amount: $13,600,000
This deal represents a significant transaction in the office market, highlighting the involvement of key players in the real estate industry. Jacob Aini's acquisition marks a strategic move for Aini Assets, while Eli and Isaac Chetrit continue to engage in property transactions, maintaining their influence in the real estate sector.
On the Map
$10,500,000
$420/SF
Office
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Players
New York 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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93