Nic Fallows Of BNF Capital Purchases Retail Property From Michael Shah Of Delshah Capital For $21M
58 60 Ninth Avenue
$21,000,000
Building Size
—
Asset Type
Retail
Closing
Apr 23, 2025
AI
The property asset involved in the transaction is located at 58-60 Ninth Avenue in the Meatpacking District of Manhattan. The asset type is retail and is being acquired for a price of $21,000,000 through a structured bankruptcy process.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $21,000,000
- Buyer: Nic Fallows - BNF Capital
- Seller: Michael Shah - Delshah Capital
- Closing Date: October 2025
Nic Fallows represents BNF Capital, which is the UK-based family office for the Perrodo family. Michael Shah represents Delshah Capital in this transaction.
Players
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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93