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
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