Acadia Realty Trust Acquires Soho Retail Asset For $15.4M
SOLD
$15,400,000
New York
See Similar DealsRetail33,430 SF
Sold 01/09/2020
SOLD
Acadia Realty Trust Acquires Soho Retail Asset For $15.4M
37 Greene St, New York, NY 10013, USA
See Similar DealsRetail33,430 SF
Sold 01/09/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$460
Total Square Footage:33,430 SF
Transaction Type:Sale
Acadia Realty Trust has acquired a retail property in Soho for $15,400,000. Located at 37 Greene Street, the property spans 3,343 square feet, resulting in a price per square foot of $4,609. The transaction involved the sale of the property by Thor Equities and Premier Equities.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $15,400,000
- Address: 37 Greene Street
- Market: Soho
- Square Footage: 3,343
- Price per Square Foot: $4,609
The deal was facilitated by Brian Segall and George Martinecz from Newmark Knight Frank, who represented the buyer and seller, respectively.
Players
BROKERAGE
BUYER
SELLER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$821,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$54,712.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,003.86
Annual Debt Service$876,046.28
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