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175 3rd Street

Aby Rosen's RFR Holding Sells Gowanus Development Site To Tavros Capital And Charney Companies For $160M
SOLDDevelopment Site

Aby Rosen's RFR Holding Sells Gowanus Development Site To Tavros Capital And Charney Companies For $160M

175 3rd Street

$160,000,000

Building Size

Asset Type

Development Site

Closing

Oct 16, 2024

AI

The development site located at 175 3rd Street in the Gowanus neighborhood is currently under contract for a transaction amount of $160,000,000. This site has been identified as a major asset within the market, reflecting an increase from the $115,000,000 paid for it in 2018.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $160,000,000
  • Buyer: Nicholas Silvers - Tavros Capital
  • Buyer: Sam Charney - Charney Companies
  • Seller: Aby Rosen - RFR Holding
  • Broker: Andrew Sasson - Ackman-Ziff
  • Address: 175 3rd Street
  • Market: Gowanus

Aby Rosen's RFR Holding is executing the sale of the Gowanus development site, while Nicholas Silvers and Sam Charney represent the buying entities. The broker facilitating this transaction is Andrew Sasson from Ackman-Ziff, underscoring the collaboration among prominent figures and firms in the real estate industry.

Players

Andrew Sasson

Ackman-Ziff

Broker

$534.2M

vol

11 deals

Broker

Brooklyn 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

0.10%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93