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.
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