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
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.
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