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44 West 8th Street

T30 Capital Acquires Greenwich Village Development Site For $10M
SOLDDevelopment Site

T30 Capital Acquires Greenwich Village Development Site For $10M

44 West 8th Street

$10,000,000

Building Size

Asset Type

Development Site

Closing

Oct 19, 2023

AI

A Greenwich Village storefront located at 44 West 8th Street in Manhattan has been sold in a portfolio transaction. The development site was purchased by T30 Capital for $10 million from the Grundwerg Family. The property is a development site in Greenwich Village, Manhattan.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $10,000,000
  • Address: 44 West 8th Street
  • Market: Greenwich Village, Manhattan

Representing the seller in the transaction were Clint Olsen, Hall Oster, and Stephen Godnick from JLL. T30 Capital was represented by Margaret Grossman, who is one of their brokers. The transaction between the Grundwerg Family and T30 Capital was facilitated by these key individuals.

Note: This portfolio sale of the Greenwich Village storefront at 44 West 8th Street was completed with JLL brokers Clint Olsen, Hall Oster, and Stephen Godnick representing the seller, and T30 Capital purchasing the property for $10 million.

Players

Clint Olsen

JLL

Broker

$702.9M

vol

22 deals

Broker
T30 Capital
T30 CapitalBuyer
T30 Capital
T30 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

1.59%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93