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444 Broadway, New York, NY ...

MiddleGround Capital Leases Multifamily Property In SoHo With Landlord Madison Capital
LEASEDOther

MiddleGround Capital Leases Multifamily Property In SoHo With Landlord Madison Capital

444 Broadway, New York, NY 10013, USA

Building Size

8,425 SF

Asset Type

Other

Closing

Sep 14, 2020

AI

Located at 10 Crosby (444 Broadway) in the SoHo market, this multifamily property has recently been leased. The transaction involved MiddleGround Capital as the tenant and Madison Capital as the landlord.

Summary of Transaction Details

  • Property Type: Multifamily
  • Asking Price: $82/ft.
  • Square Footage: 8,425
  • Tenant: MiddleGround Capital
  • Landlord: Madison Capital
  • Tenant's Rep: Daniel Lolai & Joel Kubie - LSL Advisors
  • Landlord's Rep: Kyle Young, Mitch Konsker & Dan Turkewitz - Jones Lang LaSalle (JLL)

The deal was facilitated by Daniel Lolai and Joel Kubie from LSL Advisors, representing the tenant, and by Kyle Young, Mitch Konsker, and Dan Turkewitz from Jones Lang LaSalle (JLL), representing the landlord.

Players

Madison Capital Group
Madison Capital GroupLandlord

New York Other Market Snapshot

Boundary boundary · Other · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93