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:
- Property Type: Development Site
- Sale Price: $2,950,000
- Square Footage: 3,060
- Price per Square Foot: $964
- Address: 155 Smith Street, New York City
- Buyer: David Halberstam
- Seller: BK Developers
- Brokers: Patrick Madigan, Stephen Palmese, Michael Mazzara, Ethan Stanton, Winfield Clifford, and Brendan Maddigan - JLL
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
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