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391 Broadway

Aamir Motiwala Purchases 2,040 SF Retail Condo In Tribeca From Clayton Sussman For $1.9M
SOLDRetail

Aamir Motiwala Purchases 2,040 SF Retail Condo In Tribeca From Clayton Sussman For $1.9M

391 Broadway

$1,900,000

$931/SF

Building Size

2,040 SF

Asset Type

Retail

Closing

May 20, 2026

AI

This is the sale of a 3,240 SF retail condominium located on Broadway in Tribeca, between Walker Street and White Street. The offering included 2,040 SF of ground floor retail space, as well as a 1,200 SF fully-finished lower-level. The property was delivered vacant at closing, with a sale price of $1,900,000, resulting in a price per square foot of $931.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,900,000
  • Address: 391 Broadway
  • Market: Tribeca, Manhattan
  • Square Footage: 2,040
  • Price Per Square Foot: $931
  • Buyer: Aamir Motiwala
  • Seller: Clayton Sussman
  • Brokers: Scott Plasky, Chase Friedman & Joseph Koicim - Marcus & Millichap

The transaction involved brokers Scott Plasky, Chase Friedman, and Joseph Koicim, representing both the buyer and seller throughout the deal. They facilitated the sale and are available for further inquiries regarding additional retail condominium opportunities.

Players

Joseph (Joe) Koicim
Verified Badge

Joseph Koicim

Broker

$2.7B

vol

174 deals

Broker

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

8.35%

Cash-on-Cash

-2.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93