facebook
Traded Co logo
Submit

Bando Engineering & Construction Acquires Retail Asset At 2 Times Sq For $100M

Property Image
SOLD
$100,000,000
Meaghan Philbin
Marcella Fasulo
Avery Silverstein
+ 2

New York

See Similar Deals
Retail26,000 SF
Sold 07/08/2024
the dealplayerscompscontact
Property Image
SOLD

Bando Engineering & Construction Acquires Retail Asset At 2 Times Sq For $100M

2 Times Square

See Similar Deals
Retail26,000 SF
Sold 07/08/2024
Meaghan Philbin
Marcella Fasulo
Avery Silverstein
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$3,846
Total Square Footage:26,000 SF
Transaction Type:Sale

Located at 2 Times Sq in Midtown, this retail property was sold for $100,000,000. Spanning 26,000 square feet, the price per square foot equated to $3,846. The transaction took place on 07/08/2024.

Summary of transaction details:

The deal was facilitated by a team of brokers from Newmark, including Adam Spies, Adam Doneger, Avery Silverstein, Marcella Fasulo, and Meaghan Philbin. Bando Engineering & Construction emerged as the buyer, while Sherwood Equities acted as the seller in this transaction at 2 Times Sq.

Players

Adam Doneger
Newmark
Adam Doneger
189 deals$50B volume(516) 317-7837
BROKER
Avery Silverstein
Newmark
Avery Silverstein
64 deals$14.8B volume(212) 850-5432
BROKER
Adam Spies
Newmark
Adam Spies
263 deals$71.8B volume(212) 841-7500
BROKER
Marcella Fasulo
Newmark
Marcella Fasulo
93 deals$25.7B volume
BROKER
Meaghan Philbin
Newmark
Meaghan Philbin
11 deals$1.9B volume
BROKER

Details

SOLD
IMAGE: Adam Doneger, Avery Silverstein, Adam Spies, Marcella Fasulo, Meaghan Philbin DATE: 07/08/2024 ADDRESS: 2 Times Sq MARKET: Midtown ASSET TYPE: Retail BUYER: Bando Engineering & Construction SELLER: Sherwood Equities BROKERS: Adam Spies, Adam Doneger (@ADoneger), Avery Silverstein (@Avery.Morgan810), Marcella Fasulo (@MMFasulo) & Meaghan Philbin - Newmark (@Newmark) SALE PRICE: $100,000,000 SF: 26,000 ~ PPSF: $3,846

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,333,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21