The property asset involved in this transaction is a development site located at 20 West 15th Street in Manhattan. The asset was sold for $5,185,000, encompassing a building square footage of 13,792 and a price per building square foot of $375. The total square footage of the property is 1,812, with a price per square foot of $2,861. This development opportunity comes with approved plans for a 9-unit mixed-use building.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $5,185,000
• Building Square Footage: 13,792
• Price Per Building Square Foot: $375
• Total Square Footage: 1,812
• Price Per Square Foot: $2,861
• Seller: Navnit Kumar
• Buyer’s Representative: Julian Bombart - Capital Property Partners
• Seller’s Representative: Sterling Heatley - Capital Property Partners

This transaction was facilitated by Julian Bombart representing the buyer and Sterling Heatley representing the seller, both from Capital Property Partners. The deal showcases a significant development opportunity in a prime Manhattan location, paired with plans for a new mixed-use project.