Thor Equities Acquires Retail Property In New York City For $7.9M
SOLD
$7,900,000
+ 1
New York
See Similar DealsRetail6,664 SF
Sold 07/07/2023
SOLD
Thor Equities Acquires Retail Property In New York City For $7.9M
470 Broadway New York, NY 10013, USA
See Similar DealsRetail6,664 SF
Sold 07/07/2023
+ 1
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,185
Total Square Footage:6,664 SF
Transaction Type:Sale
Thor Equities has acquired a retail property located at 470 Broadway in New York City. The asset spans across 6,664 square feet and was sold for a total price of $7,900,000. This translates to a price per square foot of $1,185.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,900,000
- Address: 470 Broadway, New York City
- Market: New York City
The buyer, Thor Equities, completed the acquisition with the representation of Cushman & Wakefield. The deal was facilitated by brokers Hunter Moss, Bobby Carrozzo, Michael Gembecki, and Robert Burton.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$421,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,067.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,450.03
Annual Debt Service$449,400.36
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