Artifact Real Estate Development Acquires Office Building At 165 Grand Street For $28 Million From Bijan Royal
165 Grand Street
$28,000,000
Building Size
—
Asset Type
Office
Closing
Aug 12, 2026
About this deal
AI
The asset involved in the transaction is an office building located at 165 Grand Street in the Little Italy market. The sale was completed for a total amount of $28 million. The building is landmarked and has notable significance in the area.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $28,000,000
- Buyer: Artifact Real Estate Development
- Seller: Bijan Royal
- Representative of Seller: Bijan Nassi
- Date of Transaction: 08/12/2026
The transaction was carried out by Artifact Real Estate Development, which acquired the property from Bijan Royal, represented by Bijan Nassi. This acquisition expands Artifact Real Estate Development's portfolio in the Little Italy area.
On the Map
$28,000,000
Office
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Players
Grant Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93