Vornado Realty Trust Sells Upper East Side & SoHo Retail Portfolio For $184.5M
155 Spring Street, New York, NY, USA
$184,500,000
Building Size
—
Asset Type
Retail
Closing
Aug 30, 2021
About this deal
AI
The retail properties located at 677–679, 759–771, and 828–850 Madison Avenue, 478-482 Broadway, and 155 Spring Street have been sold for a price of $184,500,000. The seller of these properties is Vornado Realty Trust. The transaction took place on 08/30/2021 in the Upper East Side and SoHo markets.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $184,500,000
The deal was facilitated by Steve Roth and Haim Chera. Steve Roth and Haim Chera represented the seller, Vornado Realty Trust, in this transaction.
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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93