Michael Sherman Of Baseline Real Estate Advisors Represents Sale Of Retail Asset For $9.49M In Nolita
50 Spring Street
$9,490,000
$1,966/SF
Building Size
4,825 SF
Asset Type
Retail
Closing
Apr 16, 2026
AI
The asset involved in this transaction is a retail property located at 50 Spring Street in the Nolita market of New York. The sale price for the property was $9,490,000, with a total square footage of 4,825 and a price per square foot of $1,966.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,490,000
- Square Footage: 4,825
- Price per Square Foot: $1,966
- Address: 50 Spring Street
- Market: Nolita New York
- Broker: Michael Sherman - Baseline Real Estate Advisors
This transaction was handled by broker Michael Sherman, representing the seller through Baseline Real Estate Advisors. The involvement of this brokerage was key in facilitating the details of the sale.
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
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93