Updated Dec 4, 2024
407-409 E117th Street Dev Site Sold In Manhattan For $2.04M - Ariel Property Advisors
407 E 117th St, New York, NY 10035, USA
Building Size
1,682 SF
Asset Type
Development Site
Closing
Oct 18, 2017
About this deal
AI
The development site located at 407-409 E117th Street in New York City's Manhattan market has been sold. The property was purchased by 407 East 117 JV, LLC for a total price of $2,036,000. The price per buildable square foot (PPBSF) was $202.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,036,000
- Price per Buildable Square Foot: $202
- Seller: BEB Capital and ABR Builders
- Buyer: 407 East 117 JV, LLC
- Broker: Ariel Property Advisors
The sellers of the property were BEB Capital and ABR Builders, while the buyer was 407 East 117 JV, LLC. The deal was facilitated by Ariel Property Advisors, serving as the broker.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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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