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
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