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5175 Broadway Depew, NY 140...

Progress Realty Partners Acquires Retail Property In Buffalo For $16.2M
SOLDRetail

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

Frank DiTommaso

Cushman & Wakefield

Broker

$1.7B

vol

22 deals

Broker
Adam Dickert

Adam Dickert

Progress Realty Partners

Buyer

$48.8M

vol

5 deals

Buyer

New York Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

Loading comparables…

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