Bushwack Capital pays $8.1M for 6-unit rental with retail on Canal Street in Soho

The Bushwack Capital through the entity Three Sixty Five LLC paid $8.1 million to David Cohen through the entity DJC Canal Realty LLC for the six-unit rental (D5) with retail at 365 Canal Street in Soho, Manhattan.
The deal closed on June 14, 2021 and was recorded on July 7, 2021.
The property has 19,800 square feet of built space and 0 square feet of additional air rights for a total buildable of 17,100 square feet according to PincusCo analysis of city data. The sale price per built square foot is $409 per the PincusCo analysis.
The owner bought the property on 1-Nov-07, for $10.0 million.
The signatory for David Cohen was David Cohen. The signatory for Bushwack was Dawson Stellberger. Bushwack recently bought out partners in East Williamsburg for $14 million.
(110112002)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 6 residential units on April 10, 2013.
Within a 400-foot radius of 365 Canal Street, PincusCo identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, four were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $1.8 million, one permit with a total initial cost of $1.7 million and one initial temporary certificate of occupancy issuance for a project that initially costed $650,48. The most recent of these four items was the permit on April 22, 2021 for a residential R-2 building with six residential units at 16 Wooster Street.
One of those five items was a loan which Ascott Residence Trust borrowed $92.8 million from Oversea-Chinese Banking Corporation secured by the 47,237-square-foot, two-unit industrial (Z3) on 350 Canal Street and one other property on June 10, 2021.

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