Jack Terzi's JTRE Acquires Retail Property In Garment District For $9.7M
1330 Broadway, New York City, New York 10001, United States
$9,700,000
$1,719/SF
Building Size
5,640 SF
Asset Type
Retail
Closing
Jul 17, 2022
About this deal
AI
The property asset involved in this transaction is located at 1330 Broadway in the Garment District. This retail asset encompasses a total square footage of 5,640 and was sold for a price of $9,700,000, equating to a price per square foot of $1,719.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,700,000
- Sale Date: 08/04/2022
- Address: 1330 Broadway
- Market: Garment District
- Square Footage: 5,640
- Price per Square Foot: $1,719
- Buyer: Jack Terzi - JTRE & Michael Cohen
- Seller: Salvatore Bullaro
The deal involved key individuals, with Jack Terzi representing JTRE and Michael Cohen as the buyers in this transaction. Salvatore Bullaro acted as the seller, facilitating the sale of the retail property.
On the Map
$9,700,000
$1,719/SF
Retail
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Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.64%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93