Tokyo Trust Capital pays $98M to Savanna for property in Soho

Tokyo Trust Capital through the entity Bell Sound USA LLC paid Savanna’s 434 Broadway Property Investors III, LLC $98.3 million for 434 Broadway in Soho. The deal closed on January 15, 2020, and was recorded on January 16, 2020. The transaction consists of 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6). The property is 52,065 square feet. The parcel(s) have total development potential of 52,065 square feet.
The average sale price per square foot is $1,888.

The last time the property sold was November 7, 2013, when Savanna bought it for $62,000,000.

Over the past five years, there have been 31 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $420,000. There were 30 renovation/alteration projects (A2) applied for with a total estimated value of $6,634,086.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link