Ingka Group Acquires Retail Space At 529 Broadway SoHo From Wharton Properties For $213M
529 Broadway
$213,000,000
$3,672/SF
Building Size
58,000 SF
Asset Type
Retail
Closing
Sep 24, 2025
About this deal
AI
The property asset involved in the transaction is a retail space located at 529 Broadway in the SoHo market of Manhattan. The sale price of the asset was $213,000,000, encompassing a total square footage of 58,000, which amounts to a price per square foot of $3,672.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $213,000,000
- Address: 529 Broadway
- Market: SoHo, Manhattan
- Asset Size: 58,000 SF
- Price per SF: $3,672
- Buyer: Ingka Group
- Seller: Wharton Properties
- Seller's Representatives: Will Silverman, Gary Phillips, Carly Shoulberg - Eastdil Secured & Jeff Sutton - Wharton Properties
Key individuals involved in the deal include the buyer, Ingka Group, and the seller, Wharton Properties. The transaction was facilitated by representatives from Eastdil Secured and Wharton Properties, emphasizing collaboration between multiple brokerage firms in this high-stakes retail asset transaction.
On the Map
$213,000,000
$3,672/SF
Retail
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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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93