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424 West Broadway, New York...

Hildreth Real Estate Advisors Acquires Mixed-use Property In Soho For $5.3M
SOLDRetail

Hildreth Real Estate Advisors Acquires Mixed-use Property In Soho For $5.3M

424 West Broadway, New York City, New York 10012, United States

$5,300,000

$2,944/SF

Building Size

1,800 SF

Asset Type

Retail

Closing

Feb 17, 2022

AI

424 W. Broadway, located in the Soho market, was recently sold in a closed transaction. The mixed-use property spans 5,250 square feet and was sold for a price of $5,300,000, resulting in a price per square foot of $1,009.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $5,300,000
  • Address: 424 W. Broadway
  • Market: Soho

The buyer, Hildreth Real Estate Advisors, was represented by David Shorenstein, Jason Breitstone, Max Padway, and Ethan Frank. On the other hand, the seller in this transaction was David Brown. Brandon Polakoff from Avison Young acted as the broker.

Hildreth Real Estate Advisors, the buyer in this transaction, expressed their active interest in off-market transactions in Manhattan, encouraging potential sellers to send new opportunities to [email protected].

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker
David Shorenstein

David Shorenstein

Hildreth Real Estate Advisors

Buyer

$187.3M

vol

60 deals

Buyer

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

2.99%

Cash-on-Cash

-0.86%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93