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214 West 80th Street

Friedland Properties & ZKZ 214 LLC Sell Development Site At 214 West 80th Street For $10.5M
SOLDDevelopment Site

Friedland Properties & ZKZ 214 LLC Sell Development Site At 214 West 80th Street For $10.5M

214 West 80th Street

$10,500,000

Building Size

Asset Type

Development Site

Closing

Feb 4, 2025

AI

The asset involved in the transaction is a development site located at 214 West 80th Street in the Upper West Side. The sale price for this property is $10,500,000, with a building square footage of 19,680 and a price per building square foot of $533.

Summary of transaction details:

The selling party comprises Friedland Properties and ZKZ 214 LLC, who successfully engaged the services of several brokers from Ripco in this transaction. The involved brokers include Gene Spiegelman, Stephen R. Preuss Sr., Doug Kleiman, Andreas Efthymiou, and Charles Schirrmeister, all contributing their expertise to facilitate this deal.

Players

Andreas Efthymiou

Ripco

Broker

$1.1B

vol

128 deals

Broker

New York 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

1.51%

Cash-on-Cash

-0.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93