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139 Franklin Street

Broad Street Development Acquires Resi Conversion At 139 Franklin Street For $43.5M
SOLDSelf Storage

Broad Street Development Acquires Resi Conversion At 139 Franklin Street For $43.5M

139 Franklin Street

$43,500,000

$771/SF

Building Size

56,384 SF

Asset Type

Self Storage

Closing

Jul 14, 2025

AI

The property asset involved in this transaction is located at 139 Franklin Street in the Tribeca market of Manhattan. It is a residential conversion asset with a sale price of $43,500,000. The total square footage of the property is 56,384, translating to a price per square foot of $771.

Summary of transaction details:

The deal involved Broad Street Development as the buyer and The Sofia Family as the seller, showcasing the collaboration of multiple brokers from JLL, including Andrew Scandalios, Brendan Maddigan, Ethan Stanton, Vickram Jambu, Hall Oster, and Roberto Casas, to facilitate the transaction.

Players

Andrew Scandalios

JLL

Broker

$12B

vol

68 deals

Broker
JLL
JLLBrokerage
Broad Street Development
Broad Street DevelopmentBuyer

New York Self Storage Market Snapshot

Boundary boundary · Self Storage · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.36%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93