Updated Dec 4, 2024
Roger Bittenbender Acquires Development Site On East 9th St, Manhattan For $14M
220-228 East 9th St
$14,000,000
$623/SF
Building Size
22,460 SF
Asset Type
Development Site
Closing
Mar 1, 2024
About this deal
AI
The property at 220-228 East 9th St in East Village, Manhattan, is a development site that was recently sold for $14,000,000. The total square footage of the property is 22,460, with a price per square foot of $623. Additionally, the building square footage is 31,500, equating to a price per building square foot of $444.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $14,000,000
- Buyer: Roger Bittenbender
- Seller: David Berley
- Buyer's Representative: Chris Halliburton - Compass
- Seller's Representative: Peter Weiss - Walters & Samuels
The transaction was facilitated by Chris Halliburton from Compass, representing the buyer, Roger Bittenbender. On the other side, Peter Weiss from Walters & Samuels served as the seller's representative, working with David Berley in the sale of the development site at 220-228 East 9th St. The deal showcases the collaborative effort of these key individuals in successfully closing the property sale in East Village, Manhattan.
On the Map
$14,000,000
$623/SF
Development Site
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Players
Fernwood Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93