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Jacob Aini Of Aini Assets Acquires 70% Stake In Office Building At 447 Broadway For $10.5M

Property Image
SOLD
$10,500,000
Eli Chetrit
Isaac Chetrit

New York

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Office25,000 SF
Sold 02/27/2025
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Property Image
SOLD

Jacob Aini Of Aini Assets Acquires 70% Stake In Office Building At 447 Broadway For $10.5M

447 Broadway

See Similar Deals
Office25,000 SF
Sold 02/27/2025
Eli Chetrit
Isaac Chetrit
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$420
Total Square Footage:25,000 SF
Transaction Type:Sale

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.

Players

AA
Aini Assets
BUYER
Eli Chetrit
Eli Chetrit
8 deals$1.3B volume
SELLER
Isaac Chetrit
Isaac Chetrit
10 deals$1.4B volume
SELLER

Details

SOLD
IMAGE: Eli Chetrit & Isaac Chetrit DATE: 02/27/2025 ADDRESS: 447 Broadway MARKET: SoHo, Manhattan ASSET TYPE: Office BUYER: Jacob Aini - Aini Assets SELLER: Eli Chetrit & Isaac Chetrit SALE PRICE: $10,500,000 STAKE PERCENTAGE: 70% NOTE: Jacob Aini’s Aini Assets paid $10.5M for a 70% stake in the 25,000 sq. ft. office building at 447 Broadway in SoHo, Manhattan, from Eli and Isaac Chetrit, with $13.6M in debt held by BH Capital FL LLC.

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

$559,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
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