Avo Construction Sells Retail Condos On Greenwich St In Tribeca For $6.5M
408 Greenwich St, New York, NY 10013, USA
$6,500,000
$298/SF
Building Size
21,761 SF
Asset Type
Retail
Closing
May 14, 2019
About this deal
AI
An retail condo located at 408 Greenwich St in the Tribeca market has been sold in a closed transaction. The transaction, which took place on May 15, 2019, involved a loan amount of $6,500,000 from Modern Bank. The property is owned by Avo Construction.
Summary of transaction details
- Property Type: Retail Condos
- Transaction Amount: $6,500,000
- Address: 408 Greenwich St
- Market: Tribeca
Brad Domenico of Progress Capital represented the parties involved as the broker in this deal.
The retail loan at 408 Greenwich St, New York, NY 10013, USA in New York, New York financed for $6.5M in 2019. The building is 21,761 square feet, implying about 298 per square foot on the published price. Brad Domenico, Progress Capital appear on the loan alongside Progress Capital. This page is the New York, New York file for the 408 Greenwich St, New York, NY 10013, USA retail financed: pricing, party profiles, and other closed retail comps from the same New York sit in the Market section below. Filter that New York retail set by closing date to see what else financed near 408 Greenwich St, New York, NY 10013, USA around 2019. Published consideration for 408 Greenwich St, New York, NY 10013, USA is $6.5M, dated 2019. Cite this Avo Construction Sells Retail Condos On Greenwich St In Tribeca For $6.5M loan when underwriting similar retail product around New York, New York.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Deal FAQ
About $298 per square foot on a published $6.5M for 21,761 square feet (2019).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93