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Rosenkranz Foundation Acquires Former Market Line Food Hall Condo For $12.9M In Lower East Side

Property Image
SOLD
$12,900,000
Lisa Gomez
Charles R. Bendit
Paul E. Pariser

New York

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Retail35,421 SF
Sold 05/01/2025
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Property Image
SOLD

Rosenkranz Foundation Acquires Former Market Line Food Hall Condo For $12.9M In Lower East Side

202 Broome Street

See Similar Deals
Retail35,421 SF
Sold 05/01/2025
Lisa Gomez
Charles R. Bendit
Paul E. Pariser
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$364
Total Square Footage:35,421 SF
Transaction Type:Sale

The retail asset located at 202 Broome Street in the Lower East Side of Manhattan was sold for $12,900,000. The property encompasses a total area of 35,421 square feet, pricing it at approximately $364 per square foot.

Summary of transaction details:

The Rosenkranz Foundation acquired the former Market Line Food Hall condo from Taconic, L+M, and BFC Development as part of this transaction.

Players

Lisa Gomez
L+M Development Partners
Lisa Gomez
6 deals$172M volume
SELLER
Charles R. Bendit
Taconic Partners
Charles R. Bendit
4 deals$192.2M volume
SELLER
Paul E. Pariser
Taconic Partners
Paul E. Pariser
5 deals$292.2M volume
SELLER

Details

SOLD
IMAGE: Charles R. Bendit, Paul E. Pariser, Lisa Gomez & Donald Capoccia DATE: 05/01/2025 ADDRESS: 202 Broome Street MARKET: Lower East Side, Manhattan ASSET TYPE: Retail BUYER: Rosenkranz Foundation SELLER: Charles R. Bendit & Paul E. Pariser - Taconic Partners; Lisa Gomez - L+M Development Partners (@LMDevPartners); Donald Capoccia - BFC Development Partners (@BFCPartners) SALE PRICE: $12,900,000 SF: 35,421 ~ PPSF: $364 NOTE: The Rosenkranz Foundation bought the former Market Line Food Hall condo at 202 Broome Street in Essex Crossing for $12.9M from Taconic, L+M, and BFC Development.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$688,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$45,830.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,152.58
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