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
- Property Type: Development Site
- Transaction Amount: $3,300,000
- Address: 35 Lispenard St.
- Market: Tribeca
- Buyer: Urban Standard Development
- Seller: Joe White & Kit White
- Buyer's Rep: Maurice Suede & Dan Soyak - Cushman & Wakefield
- BSF: 6,690
- PPBSF: $493
Maurice Suede and Dan Soyak from Cushman & Wakefield acted as the representatives of Urban Standard Development in this transaction.
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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93