Chelsfield & RAM Holdings Acquire SoHo Office Building For $55M

580 Broadway, located in the SoHo market, has been sold in a recent transaction. The property, which is an office asset, was sold for a total price of $55,000,000. The sale was completed on March 18, 2022, with a total square footage of 141,645. This translates to a price per square foot of $388.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $55,000,000
• Address: 580 Broadway
• Market: SoHo

The buyers of the property are Chelsfield & RAM Holdings, while Pete Mistry, representing Broad Prince Realty, acted as the seller. The brokers involved in the transaction were Justin Michael Natalizio and Eric Michael Anton, who represented Marcus & Millichap.

During the negotiation process, The Anton Group successfully secured a 99-year ground lease for 580 Broadway. Despite challenging circumstances such as riots, a pandemic, and ongoing conflicts in Europe, the deal was finalized. For more information about this transaction or other opportunities, interested parties can contact Eric Michael Anton at (917) 848-6043 or Justin Michael Natalizio at (917) 685-6988.