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35 Lispenard Street

Urban Standard Development Acquires Development Site In Tribeca For $3.3M
SOLDDevelopment Site

Urban Standard Development Acquires Development Site In Tribeca For $3.3M

35 Lispenard Street

$3,300,000

$493/SF

Building Size

6,690 SF

Asset Type

Development Site

Closing

Jul 20, 2022

AI

Urban Standard Development has acquired a development site located at 35 Lispenard St. in Tribeca. The property, which was sold by Joe White and Kit White, was purchased for a total of $3,300,000. The development site has a total buildable square footage of 6,690, with a price per buildable square foot of $493.

Summary of transaction details

Maurice Suede and Dan Soyak from Cushman & Wakefield acted as the representatives of Urban Standard Development in this transaction.

Players

Dan Soyak

Cushman & Wakefield

Broker

$115.8M

vol

14 deals

Broker
Urban Standard Capital
Urban Standard CapitalBuyer
Urban Standard Capital
Urban Standard CapitalLender

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

4.81%

Cash-on-Cash

-1.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93