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Alf Naman's West Village Development Site Under Contract For $57.5M
SOLD
$57,500,000
New York
See Similar DealsDevelopment Site
Sold 03/06/2024
SOLD
Alf Naman's West Village Development Site Under Contract For $57.5M
125 Perry Street
See Similar DealsDevelopment Site
Sold 03/06/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
Located in the West Village of Manhattan, the development site at 125 Perry Street has secured a deal at an asking price of $57.5 million. The property is part of Alf Naman's luxury development, with the sale marking the second unit in the building to go into contract.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $57,500,000
- Address: 125 Perry Street
- Market: West Village, Manhattan
Jim St. André and Stephen Ferrara of Compass represented Alf Naman in this promising sale. Sales at the luxury development have seen a penthouse being the first available unit to secure a deal, setting a positive tone for the property market in the West Village.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$204,285.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$272,579.34
Annual Debt Service$3,270,952.02
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