Updated Dec 21, 2023
JLL Brokers Sell Development Site In Lincoln Square For $19M
537 West 59th Street, New York City, New York 10019, United States
$19,000,000
$2,284/SF
Building Size
8,316 SF
Asset Type
Commercial
Closing
Feb 16, 2022
About this deal
AI
537 West 59th Street, located in Lincoln Square, was recently sold in a closed transaction. This property is a development site, offering potential for future construction and development. The sale took place on February 17, 2022.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $19,000,000
- Building Square Footage: 48,955
- Price Per Building Square Foot: $388
- Address: 537 West 59th Street
- Market: Lincoln Square
The deal was facilitated by a team of brokers from JLL, including Paul Smadbeck, Hall Oster, Teddy Galligan, Conrad Martin, and Braedon Gait. They represented the buyer and seller in this transaction.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93