Clay Sussman Acquires Retail Condo On 391 Broadway In Tribeca
391 Broadway, New York, NY 10013, USA
$3,350,000
$164/SF
Building Size
20,400 SF
Asset Type
Retail
Closing
Jan 28, 2020
AI
A retail condo located at 391 Broadway in Tribeca has been sold for a price of $3,350,000. The property spans over 2,040 square feet, resulting in a price per square foot of $1,642.
Summary of transation details
- Property Type: Retail Condo
- Transaction Amount: $3,350,000
- Address: 391 Broadway, Tribeca
- Square Footage: 2,040
- Price per Square Foot: $1,642
The seller of the retail condo was Itzhaki Acquisitions, while the buyer was Clay Sussman. Maurice Suede and Dan Soyak from Cushman & Wakefield represented the seller, while the buyer was represented by Will Fang from Chase Global Realty.
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
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93