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155 Smith Street

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

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

155 Smith Street

$2,950,000

$319/SF

Building Size

9,225 SF

Asset Type

Development Site

Closing

Mar 30, 2023

AI

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

JLL

Broker

$4.7B

vol

127 deals

Broker

David Halberstam

Buyer

$183.4M

vol

14 deals

Buyer
BD
BK DevelopersSeller

Market 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

5.38%

Cash-on-Cash

-1.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93