Updated Oct 13, 2026
Danny Queenan Of Trammell Crow Company Acquires Ground Lease From Laurence Gluck And Carolwood For $14.7M
126 Lafayette Street
$14,700,000
$785/SF
Building Size
18,705 SF
Asset Type
Development Site
Closing
Jun 16, 2025
About this deal
AI
The property involved in this transaction is a development site located at 126 Lafayette Street in SoHo, Manhattan. The sale price for the ground lease was $14,700,000, encompassing 18,705 square feet, which equates to a price per square foot of $786.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $14,700,000
- Address: 126 Lafayette Street
- Market: SoHo, Manhattan
- Buyer: Danny Queenan - Trammell Crow Company
- Seller: Laurence Gluck - Stellar Management & Carolwood
Danny Queenan, representing Trammell Crow Company, engaged in the acquisition of the ground lease from sellers Laurence Gluck of Stellar Management and Carolwood, indicating a strategic move for a planned ground-up development.
On the Map
$14,700,000
$785/SF
Development Site
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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
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93