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268 West 96th Street, New Y...

Fetner Properties Acquires Development Site In Upper West Side For $16.1M
SOLDDevelopment Site

Fetner Properties Acquires Development Site In Upper West Side For $16.1M

268 West 96th Street, New York City, New York 10025, United States

$16,100,000

$639/SF

Building Size

25,180 SF

Asset Type

Development Site

Closing

Dec 16, 2021

AI

A development site located at 268 West 96th Street in the Upper West Side has been sold in a recent transaction. The property was sold by The Salvation Army to Fetner Properties, a buyer represented by Roget Lerner, Steve Bodden, and Jack Lerner from Ecclesiastical Realty and Sanchez Bodden Lerner. The sale price for the property was $16,100,000.

Summary of Transaction Details:

The buyer, Fetner Properties, made a significant investment in acquiring the development site. The sale was facilitated by Roget Lerner, Steve Bodden, and Jack Lerner, who represented the buyer in the transaction. The property is located in the Upper West Side, an attractive market known for its desirable amenities and convenient location. This transaction demonstrates the continued interest in development opportunities in the area.

Players

Roget Lerner

Ecclesiastical Realty

Broker

$86.4M

vol

7 deals

Broker
FP
Fetner PropertiesBuyer
TA
The Salvation ArmySeller

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

0.99%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93