Jeffrey Lam Acquires Retail Property On Broadway In Nomad For $29.5M
1227 Broadway, New York, Ny 10001, Usa
$29,500,000
$475/SF
Building Size
62,069 SF
Asset Type
Retail
Closing
Jul 14, 2020
About this deal
AI
A retail property located at 1227 Broadway in the Nomad market has been sold for a price of $29,500,000. The property spans across 62,069 square feet, resulting in a per square foot price of $475. The transaction took place on July 15, 2020.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $29,500,000
- Square Footage: 62,069
- Price Per Square Foot: $475
- Address: 1227 Broadway
- Market: Nomad
Jeffrey Lam, the buyer, acquired the property from Kin Chung Lam. No additional information about the deal or the parties involved was provided.
On the Map
$29,500,000
$475/SF
Retail
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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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93