Trans World Equities Refinances 857 Broadway Retail Property In Flatiron District For $11.8M
857 Broadway
$11,800,000
$1,014/SF
Building Size
11,636 SF
Asset Type
Retail
Closing
Jun 27, 2025
AI
The property asset involved in the transaction is a retail building located at 857 Broadway in the Flatiron District of Manhattan. It consists of 11,636 square feet of space and has undergone a refinancing with a loan amount of $11,800,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $11,800,000
- Asset Address: 857 Broadway
- Market: Flatiron District, Manhattan
- Loan Type: Refinance
- Lender: Bank of America
- Landlord: Richard E. Carroll - Trans World Equities
The refinancing of the retail and office building at 857 Broadway was executed by Trans World Equities, led by landlord Richard E. Carroll. The transaction involved Bank of America as the lender, facilitating the refinancing process for this property in Manhattan's Flatiron District.
Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93