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:
- Property Type: Development Site
- Transaction Amount: $143,000,000
- Buyer: Nicholas Silvers & Colin Rankowitz - Tavros
- Seller: Matt Patridge - Seaport Entertainment Group
- Brokers: Andrew Scandalios, Ethan Stanton & Nicco Lupo - JLL
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
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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93