73-75 Sullivan Street
73-75 Sullivan Street is a newly constructed, fully free-market mixed-use building in SoHo — one of Manhattan's most liquid and supply-constrained submarkets — which meaningfully reduces vacancy and obsolescence risk. The 5.40% cap rate is strong for this asset class and location, reflecting the buyer's stated thesis of capitalizing on rate-driven valuation dislocation from the 2022 tightening cycle. The loan-to-value ratio of approximately 49.8% is conservative and provides meaningful equity cushion, though the Traded.co calculator flags a DSCR of 0.94x below 1.0x, suggesting the current debt service may compress near-term cash flow and warrant careful monitoring. Citizens Private Bank's involvement as acquisition lender and the Cushman & Wakefield brokerage team's rigorous bidding process lend credibility to price discovery and execution quality. The buyer's articulated long-term hold strategy with optionality for liquidity is credible given the asset's free-market status and prime SoHo positioning, though operational execution and lease-up performance will be key variables to watch.
Deal Stats
Parties
Seller / Landlord
John Zaccaro
John Zaccaro is associated with a prominent New York real estate family with deep roots in Manhattan commercial and residential property ownership, historically concentrated in SoHo and surrounding downtown neighborhoods. The Zaccaro family has been a long-standing holder of SoHo real estate dating back multiple generations, making this a notable disposition of legacy inventory.
Buyer / Tenant
Ahcene Ouldsaada – AV Management
Ahcene Ouldsaada is the principal of AV Management, a New York-based real estate investment firm with a track record of acquiring mixed-use and multifamily assets in prime Manhattan submarkets. His stated strategy emphasizes opportunistic entry at dislocation-driven valuations with long-term hold intent, consistent with a value-add or core-plus institutional approach.
Score Analysis
Why this score
Prime SoHo Location & Supply Constraint
SoHo's limited new supply and high liquidity reduce vacancy risk and provide strong market fundamentals for long-term value appreciation.
New Construction Asset Class
Newly constructed mixed-use building eliminates obsolescence risk and deferred capital expenditure concerns typical of older Manhattan assets.
DSCR Below 1.0x
A DSCR of 0.94x indicates current debt service exceeds net operating income, creating near-term cash flow compression and refinance risk if rates remain elevated.
Buyer's Value-Add Track Record & Conservative Leverage
AV Management's documented institutional approach and 49.8% LTV provide credible execution capability and substantial equity cushion to absorb downside scenarios.
Legacy Seller Motivation
Zaccaro family's multi-generational hold and disposition of legacy SoHo inventory suggests thoughtful market timing and price validation by long-term holders.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Accelerate Lease-Up & Stabilize NOI
Achieving full occupancy and pushing rents to market will improve DSCR above 1.1x and reduce refinance vulnerability.
Lock Long-Term Fixed-Rate Financing
Refinancing the acquisition debt at a lower rate or extending maturity would reduce debt service pressure and improve cash flow resilience.
Demonstrate Operational Excellence & Tenant Quality
Publishing lease rates, tenant credit profiles, and retention metrics will validate the 5.40% cap rate and support institutional buyer confidence.
Raw Deal Textclick to expand
Submit Growing Financial Partnerships For Over 30 Years. Get Started Deals New York Mixed Use Sale 73 Sullivan Street Ahcene Ouldsaada Of AV Management Acquires Multifamily Asset At 73-75 Sullivan Street For $43.33M SOLD $43,333,000 + 1 Mixed-use 32,125 SF Sold 3 weeks ago the deal players comps contact related Summary NEW YORK Asset Type: Price Per Square Foot: $1,348 Total Square Footage: Transaction Type: The asset involved in this transaction is a mixed-use building located at 73-75 Sullivan Street in SoHo, Manhattan. The sale was completed at a price of $43,333,000, covering a total square footage of 32,957, resulting in a price per square foot of $1,315. The transaction reflects a competitive market environment in a prime location. Summary of transaction details: Property Type: Mixed-use Transaction Amount: $43,333,000 Sale Date: 05/11/2026 Address: 73-75 Sullivan Street Market: SoHo, Manhattan Square Footage: 32,957 Price Per Square Foot: $1,315 Buyer: Ahcene Ouldsaada – AV Management Seller: John Zaccaro Broker Representatives: Dylan Walsh, Niko Nicolaou, Andrew Berry & Ryan Dowd - Cushman & Wakefield Financing: Citizens Private Bank’s Scott Van Der Marck provided $21.6M in competitive acquisition financing. Cap Rate: 5.40% Cushman Wakefield managed the sale through a rigorous bidding process. The buyer, Ahcene Ouldsaada, noted that the acquisition represents a strategic investment opportunity in response to market dynamics arising from previous economic conditions, indicating plans for long-term investment with potential for liquidity as market conditions improve. See More Players All Brokers Niko Nicolaou 36 deals $2.1B volume (201) 426-2227 BROKER Andrew Berry 33 deals $410.9M volume Ryan Dowd 27 deals $2.3B volume (201) 508-5278 Dylan Walsh 72 deals $582.7M volume (917) 887-5441 Details Deal Summary IMAGE: Dylan Walsh & Niko Nicolaou DATE: 05/11/2026 ADDRESS: 73-75 Sullivan Street MARKET: SoHo, Manhattan ASSET TYPE: Mixed-use BUYER: Ahcene Ouldsaada – AV Management SELLER: John Zaccaro BROKERS: Dylan Walsh (@DylWalCRE), Niko Nicolaou (@Niko_Nicolaou), Andrew Berry (@AtBerry3) & Ryan Dowd (@RWDowd929) - Cushman & Wakefield (@CushWake) SALE PRICE: $43,333,000 SF: 32,957 ~ PPSF: $1,315 NOTE FROM BROKER: “This was rare opportunity to acquire a newly constructed fully free market building in SoHo, Manhattan. Cushman Wakefield led the sale after a rigorous bidding process which ultimately sold for a 5.40% cap rate.” NOTE FROM BUYER: “This special situation transaction represents the robust opportunity set to purchase investment grade assets at historically high yields by taking advantage of early cycle market dynamics,” said Principal Ahcene Ouldsaada. “73-75 Sullivan Street capitalized on the valuation dislocation caused by the 2022 hike in domestic base rates. The asset was acquired at an opportunistic basis and will be held long-term as a permanent income vehicle with multiple options for attractive liquidity as markets normalize.” Citizens Private Bank’s Scott Van Der Marck provided $21.6M in competitive acquisition financing under significant time constraints. Email New York | @tradedny Contact Get in touch with the broker you want Select Brokers Ryan Dowd, Niko Nicolaou, Dylan Walsh, Andrew Berry Name Phone (optional) Message I'm an agent These are similar buyers of Mixed-use properties in this price ran Unlock All Profiles Unlimited deal views Access investor profiles & contacts Exclusive comps & market data These are similar brokers based on this deal Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map. NEW! Search No recent news available for this market No active listings available for this market Suggestions Analyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results. Deal Type SALE LOAN LEASE Purchase Price Loan-to-Value (%) Interest Rate (%) Amortization Period 30 years Loan Term 10 years Operating Income Gross Potential Rent (Annual) Vacancy Rate (%) Operating Expenses (Annual) Property Tax Insurance Maintenance Utilities Management Reserves Reset Net Operating Income (NOI) $2,311,093.32 Debt Service Coverage Ratio (DSCR) 0.94x DSCR below 1.0x - deal does not cover debt service Cap Rate 5.33% Cash Flow (Annual) -$153,953.01 Cash-on-Cash Return -1.27% Monthly Debt Service $205,420.53 Annual Debt Service $2,465,046.33 Is there something missing? Send suggestions We are telling CRE's story Traded is the #1 source for cutting edge CRE transactions & insights. 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