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806 Broadway, New York, NY,...

Rubie’s Costume Company Buys Retail Condo On 806 Broadway, New York For $24.5M
SOLDRetail

Rubie’s Costume Company Buys Retail Condo On 806 Broadway, New York For $24.5M

806 Broadway, New York, NY, 10003

$24,500,000

$928/SF

Building Size

26,401 SF

Asset Type

Retail

Closing

Jul 25, 2017

AI

Located at 806 Broadway in New York, NY, the retail condominium spanning 26,401 square feet was recently sold for $24.5 million in a transaction involving Rubie’s Costume Company Operating as 808 Broadway Associates LLC as the buyer. The property, part of New York's market, served as the longtime home of New York Costumes/Halloween Adventure.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $24,500,000.00
  • Address: 806 Broadway, New York, NY, 10003
  • Market: New York
  • Seller's Rep: Rob Rizzi(JLL)
  • Buyer: Rubie’s Costume Company Operating as 808 Broadway Associates LLC
  • SF: 26,401

The seller of the retail condo was an LLC associated with SPI Holdings, led by Dennis Wong, who is a part owner of the Golden State Warriors and an investor in multifamily investor Dermot Company. The transaction was facilitated by HFF’s Andrew Scandalios, Rob Rizzi, and Steven Rutman, representing the seller and assisting in finding the buyer. Representatives for Rubie’s were not available for comment on the deal at the time.

Players

Rob Rizzi

Osiris Ventures

Broker

$245M

vol

3 deals

Broker

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

0.65%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93