Dan Houston And Amancio Ortega Acquire Office Portion Of 503 Broadway In Soho For $60M
503 Broadway St S, Menomonie, WI 54751, USA
$60,000,000
$1,276/SF
Building Size
47,000 SF
Asset Type
Office
Closing
Nov 28, 2020
About this deal
AI
Heng Sang Realty Corporation has sold the office portion of 503 Broadway in Soho, New York for $60,000,000. The property spans across 47,000 square feet, offering a substantial commercial space for potential tenants.
Summary of transaction details
- Property Type: Office Portion
- Transaction Amount: $60,000,000
- Address: 503 Broadway, Soho, New York
- Market: Soho
- Square Footage: 47,000sf
This significant deal involved Heng Sang Realty Corporation as the seller, while the buyer remains undisclosed. The lender in this transaction is Principal life insurance company. The sale of the office portion at 503 Broadway presents an exciting investment opportunity in the vibrant Soho market.
On the Map
$60,000,000
$1,276/SF
Office
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Players
Menomonie Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93