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Chetrit Group & JDS Development Group Acquire Two Bridges Dev. Site For $100M

Property Image
SOLD
$100,000,000
Marcella Fasulo
Joshua King
Eric Roth
+ 3

New York

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Development Site297,063 SF
Sold 11/19/2021
the dealplayerscompscontact
Property Image
SOLD

Chetrit Group & JDS Development Group Acquire Two Bridges Dev. Site For $100M

265 South Street, Manhattan, New York, NY, USA

See Similar Deals
Development Site297,063 SF
Sold 11/19/2021
Marcella Fasulo
Joshua King
Eric Roth
+ 3
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$336
Total Square Footage:297,063 SF
Transaction Type:Sale

Players

Adam Spies
Newmark
Adam Spies
263 deals$71.8B volume(212) 841-7500
BROKER
Douglas (Doug) Harmon
Newmark
Douglas Harmon
130 deals$47.6B volume
BROKER
Joshua King
Newmark
Joshua King
115 deals$32.8B volume(212) 850-5427
BROKER
Marcella Fasulo
Newmark
Marcella Fasulo
94 deals$25.9B volume
BROKER
Eric Roth
Newmark
Eric Roth
61 deals$1.5B volume(212) 655-0625
BROKER
Daniel (Dan) O'Brien
Newmark
Daniel O'Brien
146 deals$4.7B volume(212) 698-5584
BROKER
Cushman & Wakefield
Cushman & Wakefield
BROKERAGE
Chetrit Group
Chetrit Group
BUYER
JDS Development Group
JDS Development Group
BUYER
CIM Group
CIM Group
SELLER
L+M Development Partners
L+M Development Partners
SELLER
CIM Group
CIM Group
LENDER
Chetrit Group
Chetrit Group
LENDER

Details

SOLD
IMAGE: Adam Spies, Dan O'Brien, Michael Stern, Doug Harmon, Joseph Chetrit, Josh King, Marcella Fasulo & Eric Roth DATE: 11/19/2021 ADDRESS: 265 South Street MARKET: Two Bridges ASSET TYPE: Dev. Site ~ UNITS: 1,300 BUYER: The Chetrit Group & JDS Development Group SELLER: CIM Group & L+M Development Partners BROKERS: Adam Spies, Josh King, Dan O'Brien, Marcella Fasulo, Doug Harmon & Eric Roth- Cushman & Wakefield SALE PRICE: $100,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,333,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21