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
About this deal
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.
On the Map
Other
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Players
New York Other Market Snapshot
Boundary boundary · Other · Lease transactions
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Deal FAQ
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