George Zoitas Of Westside Market NYC Acquires Retail Space At 2250 Broadway For $32.5M
2250 Broadway
$32,500,000
Building Size
—
Asset Type
Retail
Closing
May 13, 2025
About this deal
AI
The property asset involved in the transaction is a retail space located at 2250 Broadway in the Upper West Side of Manhattan. The retail portion was sold for $32,500,000, reflecting a transaction in the competitive real estate market of New York City.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $32,500,000
- Buyer: George Zoitas - Westside Market NYC
- Seller: Jon Winkelried & Adam Schwartz - TPG Angelo Gordon
- Market: Upper West Side
- Sale Date: May 13, 2025
The deal involved George Zoitas representing Westside Market NYC in the acquisition of the retail property. The sellers, Jon Winkelried and Adam Schwartz, were affiliated with TPG Angelo Gordon and successfully secured a gain of $5.5 million from the sale, having purchased the property in 2022.
On the Map
$32,500,000
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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93