Regal Acquisitions Acquires Retail Property On Broad Street For $10.5M
SOLD
$10,500,000
New York
See Similar DealsRetail214,000 SF
Sold 12/20/2019
SOLD
Regal Acquisitions Acquires Retail Property On Broad Street For $10.5M
25 Broad St, New York, NY 10004, USA
See Similar DealsRetail214,000 SF
Sold 12/20/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$49
Total Square Footage:214,000 SF
Transaction Type:Sale
A retail property located at 25 Broad Street in the Financial District has been sold for a total of $10,500,000. The property spans over 21,400 square feet, resulting in a price per square foot of $490. The property consists of 3 units, with a price per unit of $3,500,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,500,000
- Size: 21,400 square feet
- Price Per Square Foot: $490
- Number of Units: 3
- Price Per Unit: $3,500,000
- Address: 25 Broad Street
- Market: Financial District
The seller of the retail property was LCOR, while the buyer was Regal Acquisitions – Cohen Family. The transaction was facilitated by Nat Rockett from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$559,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,304.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$49,775.36
Annual Debt Service$597,304.28
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