Updated Dec 5, 2024
SMI USA Acquires Development Site In Manhattan For $73M
351 Broadway, New York, NY 10013, USA
Building Size
14,445 SF
Asset Type
Development Site
Closing
Nov 12, 2017
About this deal
AI
A development site located at 351-355 Broadway in New York's Manhattan market has been sold for $73,000,000. The site measures 14,445 square feet.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $73,000,000
- Address: 351-355 Broadway
- City: New York
- Market: Manhattan
- Seller: Toll Brothers (TollBrothersCityLiving)
- Buyer: SMI USA (Shanghai)
The deal's key individuals and companies involved in this transaction are Toll Brothers City Living, the seller, and SMI USA, the buyer.
Happy Thanksgiving!
Traded’s record for 351 Broadway, New York, NY 10013, USA in New York, New York covers a development site sale from 2017. The building is 14,445 square feet, implying about 0 per square foot on the published price. This page is the New York, New York file for the 351 Broadway, New York, NY 10013, USA development site sold: pricing, party profiles, and other closed development site comps from the same New York sit in the Market section below. Filter that New York development site set by closing date to see what else sold near 351 Broadway, New York, NY 10013, USA around 2017. Cite this SMI USA Acquires Development Site In Manhattan For $73M sale when underwriting similar development site product around New York, New York.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93