Progress Realty Partners Acquires Retail Property In Buffalo For $16.2M
5175 Broadway Depew, NY 14043, USA
$16,200,000
$108/SF
Building Size
150,000 SF
Asset Type
Retail
Closing
Jul 6, 2023
AI
A retail property located at 5175 Broadway in Buffalo has been sold for a total price of $16,200,000. The property spans 150,000 square feet, resulting in a price per square foot of $108.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $16,200,000
- Street Address: 5175 Broadway
- Market: Buffalo
The buyers of the retail property were Adam Dickert, Dan Salonis, and Kathy Anderson from Progress Realty Partners. Representing the buyers in the deal were brokers Frank DiTommaso and Max Helfman from Cushman & Wakefield, along with Bill Colucci from Pyramid Brokerage. These individuals played key roles in facilitating the transaction.
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
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93