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
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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93