Updated Jul 9, 2025
Trammell Crow Company Acquires Development Site In Soho Manhattan From Carolwood Equities For $29.5M
126 Lafayette Street
$14,500,000
$166/SF
Building Size
87,097 SF
Asset Type
Development Site
Closing
Jun 17, 2025
About this deal
AI
A development site located at 126 Lafayette Street in Soho, Manhattan, has been sold for $29,500,000. The property encompasses a building square footage of 87,097, which translates to a price per buildable square foot of $339.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $29,500,000
- Address: 126 Lafayette Street
- Market: Soho, Manhattan
- Building Square Footage: 87,097
- Price Per Buildable Square Foot: $339
- Buyer: Trammell Crow Company
- Seller: Carolwood Equities
- Brokers: Brendan Maddigan, Jonathan Hageman, Ethan Stanton, Guthrie Garvin, Michael Mazzara & Steven Rutman - JLL
The transaction involved the sale of a leasehold position, emphasizing the strategic acquisition by the buyer and representing a significant move in the market. The brokerage team from JLL played a crucial role in facilitating this deal, bringing together the parties involved effectively.
Players
New York 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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93