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:
- Property Type: Development Site
- Transaction Amount: $16,100,000
- Address: 268 West 96th Street
- Market: Upper West Side
- BROKERS: Roget Lerner, Steve Bodden & Jack Lerner - Ecclesiastical Realty & Sanchez Bodden Lerner
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
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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93