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40 Bleecker Street

Steve Kassin And David Berg Purchase Retail Space At 40 Bleecker Street For $13.3M
SOLDRetail

Steve Kassin And David Berg Purchase Retail Space At 40 Bleecker Street For $13.3M

40 Bleecker Street

$13,300,000

$1,330/SF

Building Size

10,000 SF

Asset Type

Retail

Closing

Dec 12, 2024

AI

The property asset involved in this transaction is a retail space located at 40 Bleecker Street in the Greenwich Village market. The sale price for the asset was $13,300,000, with a total area of 10,000 square feet, equating to a price per square foot of $1,330.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $13,300,000
  • Address: 40 Bleecker Street
  • Market: Greenwich Village
  • Square Footage: 10,000
  • Price Per Square Foot: $1,330
  • Buyer: Steve Kassin & David Berg - Infinity Collective
  • Seller: Ray Chalme, Daniel Blanco & David Israni - Broad Street Development; Crow Holdings
  • Brokers: Brett Siegel, Ariel Schuster & Maurice Suede - Newmark

Key individuals involved in this deal include the buyers Steve Kassin and David Berg, representing Infinity Collective, and the sellers Ray Chalme, Daniel Blanco, and David Israni, who are affiliated with Broad Street Development and Crow Holdings. The brokerage team from Newmark, consisting of Brett Siegel, Ariel Schuster, and Maurice Suede, facilitated the transaction.

Players

Brett Siegel

Newmark

Broker

$6.4B

vol

79 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

1.19%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93