Acadia Realty Trust Acquires Soho Retail Condo On 565 Broadway For $28M
SOLD
$28,000,000
New York
See Similar DealsRetail4,500 SF
Sold 11/30/2020
SOLD
Acadia Realty Trust Acquires Soho Retail Condo On 565 Broadway For $28M
565 Broadway, New York, NY 10012, USA
See Similar DealsRetail4,500 SF
Sold 11/30/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$6,222
Total Square Footage:4,500 SF
Transaction Type:Sale
A retail condo located at 565 Broadway in Soho has been sold for a total price of $28,000,000. The property spans 4,500 square feet, resulting in a price per square foot of $6,222. The buyer of the retail condo is Acadia Realty Trust, represented by Ken Bernstein, while the seller is Donald Soffer.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $28,000,000
- Square Footage: 4,500
- Price Per Square Foot: $6,222
- Address: 565 Broadway
- Market: Soho
Ken Bernstein from Acadia Realty Trust acted as the buyer's representative in the transaction. The retail condo at 565 Broadway was sold to Acadia Realty Trust by Donald Soffer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,493,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42
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