Aurora Capital Associates And Bridges Development Acquire Retail Property In Washington Heights For $46M
4200 Broadway, New York City, New York 10033, United States
$46,000,000
$211,009/SF
Building Size
218 SF
Asset Type
Retail
Closing
Jan 12, 2022
About this deal
AI
The retail property located at 4200 & 4201 Broadway in Washington Heights, Manhattan, has been sold on a leasehold basis for $46,000,000. The property spans 218,631 square feet, resulting in a price per square foot of $210. The sale was handled by JMB Capital Partners.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $46,000,000
- Address: 4200 & 4201 Broadway, Washington Heights, Manhattan
- Market: Washington Heights, Manhattan
- Buyer: Aurora Capital Associates - Bobby Cayre; Bridges Development - Michael Berfield, Todd Cooper & Peter Ripka
- Seller: JMB Capital Partners
- Square Footage: 218,631
- Price per Square Foot: $210
The buyer of the property is Aurora Capital Associates, represented by Bobby Cayre, and Bridges Development, represented by Michael Berfield, Todd Cooper, and Peter Ripka.
Players
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Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93