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Sherr Equities buys 489 Broadway

Morgan Stanley provided the debt

489 Broadway (Credit: Sherr Equities)

Sherr Equities has acquired 489 Broadway in Soho from Tak Jan Yu for $19 million. The mixed-use building spans 10,710 square feet, and contains eight apartments, plus a valuable retail component (2,000 SF). Tenants include Rituals and ZeeDog

Worth Noting: Harold Sherr partnered with the seller and net leased the building in 2014, and subsequently renovated it. The property is located between Broome and Spring Streets.

Acquisition financing: Sherr secured financing from Morgan Stanley to close the deal, according to the CO.

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