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Steven Roth Of Vornado Realty Trust Acquires Development Site From Charles S. Cohen For $141M

Property Image
SOLD
$141,000,000

New York

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Development Site18,400 SF
Sold 01/08/2026
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Property Image
SOLD

Steven Roth Of Vornado Realty Trust Acquires Development Site From Charles S. Cohen For $141M

3 East 54th Street

See Similar Deals
Development Site18,400 SF
Sold 01/08/2026
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$7,663
Total Square Footage:18,400 SF
Transaction Type:Sale

3 East 54th Street is a development site located in Manhattan. It has a sale price of $141,000,000 and encompasses 18,400 square feet, resulting in a price per square foot of approximately $7,663. The site is demolition-ready for future development opportunities.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $141,000,000
  • Buyer: Steven Roth - Vornado Realty Trust
  • Seller: Charles S. Cohen - Cohen Brothers Realty
  • Square Footage: 18,400
  • Price Per Square Foot: $7,663
  • Market: Manhattan
  • Mortgage Credit: $107,000,000 toward the purchase

Steven Roth, representing Vornado Realty Trust, and Charles S. Cohen, representing Cohen Brothers Realty, facilitated this significant transaction. The acquisition of the demolition-ready office site underscores Vornado's strategic investment in the area.

Players

Steven Roth
Vornado Realty Trust
Steven Roth
45 deals$4.4B volume
BUYER
CR
Cohen Brothers Realty
SELLER

Details

SOLD
IMAGE: Steven Roth & Charles S. Cohen DATE: 01/08/2026 ADDRESS: 3 East 54th Street MARKET: Manhattan ASSET TYPE: Development Site BUYER: Steven Roth - Vornado Realty Trust (@VornadoRealtyTrust) SELLER: Charles S. Cohen - Cohen Brothers Realty SALE PRICE: $141,000,000 SF: 18,400 ~ PPSF: $7,663 NOTE: Vornado Realty Trust bought 3 E. 54th St., a demolition-ready office site on 18,400 sq. ft., for $141M, crediting a $107M mortgage toward the purchase.

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$500,943.22
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