Isak Andic Acquires Retail Space At 512 Broadway SoHo For $26.9M From Invesco Real Estate
512 Broadway
$26,900,000
$1,415/SF
Building Size
19,000 SF
Asset Type
Retail
Closing
Oct 1, 2024
AI
This retail asset, located at 512 Broadway in the SoHo market of Manhattan, was transacted for a sale price of $26,900,000. The property encompasses a total of 19,000 square feet, resulting in a price per square foot of $1,415.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $26,900,000
- Address: 512 Broadway
- Market: SoHo, Manhattan
- Square Footage: 19,000
- Price per Square Foot: $1,415
- Buyer: Isak Andic
- Seller: Invesco Real Estate
- Broker Representatives: Brett Siegel, Evan Layne & Ariel Schuster - Newmark
The transaction involved key individuals including the buyer Isak Andic, who acquired the property from the seller Invesco Real Estate. The brokerage firm Newmark facilitated the deal through the representation of Brett Siegel, Evan Layne, and Ariel Schuster.
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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93