Equitable Holdings Sells Retail Asset In Greenwich Village For $57 Million With Newmark As Seller's Rep
21 University Place, East 8th Street & 757 Broadway
$57,000,000
$253/SF
Building Size
75,000 SF
Asset Type
Retail
Closing
Apr 9, 2025
About this deal
AI
The asset involved in this transaction is a retail property located at 21 University Place, 27-73 East 8th Street & 757 Broadway in the Greenwich Village market. The sale price of the property was $57,000,000, totaling 75,000 square feet, resulting in a price per square foot of $760.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $57,000,000
- Square Footage: 75,000
- Price Per Square Foot: $760
- Seller: Equitable Holdings
- Seller's Representative: Patrick Arnold, Brett Siegel & Adam Spies - Newmark
- Sale Date: 04/09/2025
The deal involved key representatives from Newmark, specifically Patrick Arnold, Brett Siegel, and Adam Spies, acting on behalf of seller Equitable Holdings, represented by Mark Pearson in this transaction.
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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93