Updated Dec 4, 2024
David Cohen Sells Development Site In Midtown West For $15M Through Highcap Group
245 West 34th Street & 247 West 34th Street
$15,000,000
Building Size
—
Asset Type
Development Site
Closing
Mar 18, 2024
About this deal
AI
The development site located at 245-247 West 34th Street in Midtown West was sold for $15,000,000. The property spans 45,000 square feet with a price per buildable square foot of $333.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,000,000
- Address: 245-247 West 34th Street
- Market: Midtown West
- BSF: 45,000
- PPBSF: $333
- Seller: David Cohen
- Brokers: Charles Chang - Highcap Group
Charles Chang from Highcap Group represented the seller, David Cohen, in the transaction.
The development site sale at 245 West 34th Street in New York, New York sold for $15M in 2024. 245 West 34th Street is classified as Development Site on Traded. Charles Chang, Highcap Group appear on the sale alongside Highcap Group. This page is the New York, New York file for the 245 West 34th Street development site sold: pricing, party profiles, and other closed development site comps from the same New York sit in the Market section below. Filter that New York development site set by closing date to see what else sold near 245 West 34th Street around 2024. Published consideration for 245 West 34th Street is $15M, dated 2024. Cite this David Cohen Sells Development Site In Midtown West For $15M Through Highcap Group sale when underwriting similar development site product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93