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250 Water Street

Nicholas Silvers And Colin Rankowitz Of Tavros Acquire Development Site In Seaport For $143M
SOLDDevelopment Site

Nicholas Silvers And Colin Rankowitz Of Tavros Acquire Development Site In Seaport For $143M

250 Water Street

$143,000,000

$291/SF

Building Size

490,372 SF

Asset Type

Development Site

Closing

Feb 5, 2026

AI

The asset involved in this transaction is a development site located at 250 Water Street in the Seaport area of Manhattan. The sale price for the property was $143,000,000.

Summary of transaction details:

This transaction included key players such as Nicholas Silvers and Colin Rankowitz representing the buyer, Tavros. Matt Patridge represented the seller, Seaport Entertainment Group, while Andrew Scandalios, Ethan Stanton, and Nicco Lupo from JLL served as brokers, facilitating the deal.

Players

Andrew Scandalios

JLL

Broker

$12B

vol

68 deals

Broker
T
TavrosBuyer
T
TavrosBuyer

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

0.11%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93