Michael Alvandi Of City Urban Realty Purchases Retail Space From Steven Elghanayan For $5.9M

The property asset involved in this transaction is a retail space located at 386 West Broadway in the SoHo market of Manhattan. The sale price for this asset was $5,900,000, with a total square footage of 3,659 and a price per square foot of $1,612.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,900,000
• Address: 386 West Broadway
• Market: SoHo, Manhattan
• Square Footage: 3,659
• Price per Square Foot: $1,612
• Buyer: Michael Alvandi - City Urban Realty
• Seller: Steven Elghanayan - EPIC

City Urban Realty successfully negotiated this acquisition off market. As an active participant in multiple 1031 exchanges, they are focused on acquiring value-add retail, multifamily, office, and industrial assets in Manhattan south of 96th Street, prime Brooklyn, and the gold coast of Long Island, with deal sizes ranging from $5 million to $150 million. For inquiries, interested parties can contact Harry Hochman.