Jack Terzi's JTRE Acquires Retail Property In Garment District For $9.7M
SOLD
$9,700,000
New York
See Similar DealsRetail5,640 SF
Sold 07/18/2022
SOLD
Jack Terzi's JTRE Acquires Retail Property In Garment District For $9.7M
1330 Broadway, New York City, New York 10001, United States
See Similar DealsRetail5,640 SF
Sold 07/18/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,719
Total Square Footage:5,640 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$517,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,462.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,982.95
Annual Debt Service$551,795.38
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