Sabet Group paid $21M to Sean Low

Sabet Group through the entity 457 Broome St LLC paid Sean Low’s Beam-Rich Inc. $21.3 million for 1 parcel, including the tax class loft with retail stores (L8) and containing 9 residential units at 457 Broome Street in Soho. The deal closed on July 29, 2019 and was recorded on August 05, 2019. The parcel(s) have total development potential of 24,785 square feet.
The average sale price per square foot is $859.
The estimated cap rate is 2.6%

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $50,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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