Updated Dec 20, 2023
Steven Bai Acquires Development Site In Chinatown For $3.8M
25 Allen Street, New York City, New York 10002, United States
$3,800,000
$283/SF
Building Size
13,400 SF
Asset Type
Development Site
Closing
Dec 15, 2021
About this deal
AI
A development site located at 25 Allen Street in Chinatown has been sold for $3,800,000. The property spans 13,400 square feet, resulting in a price per buildable square foot (PPBSF) of $283. The transaction took place on December 15, 2021.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $3,800,000
- BSF: 13,400
- PPBSF: $283
- Address: 25 Allen Street
- Market: Chinatown
The buyer of the property is Steven Bai, while the seller is Miriam Sand. The seller was represented by Stephen Dadourian and Jonathan Buerger from B6 Real Estate Advisors.
On the Map
$3,800,000
$283/SF
Development Site
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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
4.17%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93