Updated Oct 29, 2024
Redeemer Presbyterian Church Acquires Development Site In Upper East Side For $29.5M
150 E 91st St, New York, NY 10128, USA
$29,500,000
$138/SF
Building Size
213,420 SF
Asset Type
Development Site
Closing
Aug 13, 2020
About this deal
AI
A development site located at 150 East 91st Street in the Upper East Side has been sold for a price of $29,500,000. The site spans over 21,342 square feet, with a price per square foot of $1,382. The building has a total square footage of 45,094, resulting in a price per buildable square foot of $654.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $29,500,000
- Address: 150 East 91st Street
- Market: Upper East Side
The buyer in this transaction was Redeemer Presbyterian Church, while the seller was GPG Properties, formerly known as Mautner Glick. The deal was facilitated by Hunter Moss and Brad Jones from Cushman & Wakefield @BuildingInvestmentSales.
On the Map
$29,500,000
$138/SF
Development Site
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New York Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93