Mike Babaian Purchases Retail Property At 555 Broadway From Fanyi Wang For $1.05M
555 Broadway
$1,050,000
$420/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Apr 2, 2026
About this deal
AI
The retail asset located at 555 Broadway in Soho, Manhattan, closed at a transaction price of $1,050,000. The property boasts a total square footage of 2,500 and has a price per square foot of $420.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,050,000
- Address: 555 Broadway
- Market: Soho, Manhattan
- Buyer: Mike Babaian
- Seller: Fanyi Wang
- Broker: Lina Shi - S10 Realty Group
- SF: 2,500
- PPSF: $420
Lina Shi from S10 Realty Group represented the seller, Fanyi Wang, in this transaction. The sale was completed in 30 days and was marked by multiple cash offers, with the property being sold in as-is condition.
Players
Massapequa 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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93