Updated Dec 4, 2024
Jason Hoffman Acquires 42,000 SF Development Site In Syracuse For $1.3M
301 S Salina St, Syracuse, NY 13202, USA
$1,300,000
$3/SF
Building Size
420,000 SF
Asset Type
Development Site
Closing
Nov 25, 2019
About this deal
AI
A development site located at 301 South Salina Street in Syracuse has been sold for a price of $1,300,000. The property spans 42,000 square feet, resulting in a price per square foot of $30. The seller of the site was Walgreens Corp.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,300,000
- Address: 301 South Salina Street
- Market: Syracuse
- Square Footage: 42,000
- Price Per Square Foot: $30
Jason Hoffman, representing Seagate Asset Management, served as the buyer in this transaction. The deal was facilitated by Martin McDermott from JF Real Estate as the broker.
Seagate Asset Management, led by Jason Hoffman, is currently engaged in active discussions with various potential tenants for the development site.
On the Map
$1,300,000
$3/SF
Development Site
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Players
City of Syracuse 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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93