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2330 Broadway, New York, NY...

Welltower And Hines Acquire Development Site On Broadway In Manhattan For $61M
SOLDDevelopment Site

Welltower And Hines Acquire Development Site On Broadway In Manhattan For $61M

2330 Broadway, New York, NY 10024, USA

$61,000,000

$0/SF

Building Size

610,000,000 SF

Asset Type

Development Site

Closing

Nov 11, 2018

AI

A development site located at 2330 Broadway in Manhattan has been sold for a price of $61,000,000. The property is a development site with a total square footage of 140,000 square feet. The sale price per square foot is $435.

Summary of transaction details

  • Property Type: Development site
  • Transaction Amount: $61,000,000
  • Address: 2330 Broadway, Manhattan
  • Market: Manhattan
  • Representatives: Sarah Hawkins and Bevin Littlehale - Hines, John Olympitis and Talal Khan - Welltower

The deal was facilitated by Sarah Hawkins and Bevin Littlehale from Hines, representing the buyer, Welltower, and John Olympitis and Talal Khan from Welltower. The seller of the property is Beekman Estate.

Players

Hines
HinesBuyer

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93