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David Halberstam Acquires Development Site On 155 Smith Street In New York City For $2.95M

Property Image
SOLD
$2,950,000
Ethan Stanton
Brendan Maddigan
+ 4

New York

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Development Site9,225 SF
Sold 03/30/2023
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Property Image
SOLD

David Halberstam Acquires Development Site On 155 Smith Street In New York City For $2.95M

155 Smith Street

See Similar Deals
Development Site9,225 SF
Sold 03/30/2023
Ethan Stanton
Brendan Maddigan
+ 4
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$319
Total Square Footage:9,225 SF
Transaction Type:Sale

A development site located at 155 Smith Street in New York City has been sold in a recent transaction. The property, measuring 3,060 square feet, was purchased by David Halberstam for a price of $2,950,000. The site is located in a highly sought-after market, offering great potential for development.

Summary of transaction details:

The transaction was facilitated by a team of brokers from JLL, including Patrick Madigan, Stephen Palmese, Michael Mazzara, Ethan Stanton, Winfield Clifford, and Brendan Maddigan. Their expertise and negotiation skills played a crucial role in the successful completion of the deal.

Players

Brendan Maddigan
125 deals$4.7B volume(508) 733-8445
BROKER

Ethan Stanton
JLL
133 deals$6.1B volume(516) 790-7718
BROKER

Winfield Clifford
JLL
75 deals$2.6B volume(212) 376-5443
BROKER

Michael Mazzara
JLL
111 deals$3.9B volume(212) 376-5450
BROKER

Stephen Palmese
JLL
84 deals$3.3B volume(212) 376-1228
BROKER

Patrick Madigan
Avison Young
23 deals$519.2M volume
BROKER


SELLER

Details

SOLD
IMAGE: Patrick Madigan DATE: 03/30/2023 ADDRESS: 155 Smith Street MARKET: New York City ASSET TYPE: Development Site BUYER: David Halberstam SELLER: BK Developers BROKERS: Patrick Madigan, Stephen Palmese, Michael Mazzara, Ethan Stanton, Winfield Clifford & Brendan Maddigan - JLL SALE PRICE: $2,950,000 SF: 3,060 ~ PPSF: $964

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,480.74
Cash-on-Cash Return-1.27%
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