Clay Sussman Acquires Retail Condo On 391 Broadway In Tribeca
SOLD
$3,350,000
New York
See Similar DealsRetail20,400 SF
Sold 01/29/2020
SOLD
Clay Sussman Acquires Retail Condo On 391 Broadway In Tribeca
391 Broadway, New York, NY 10013, USA
See Similar DealsRetail20,400 SF
Sold 01/29/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$164
Total Square Footage:20,400 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$178,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,901.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,880.71
Annual Debt Service$190,568.51
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