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Yards Realty Acquires Development Site On West 36th Street In Hudson Yards For $6.9M

Property Image
SOLD
$6,900,000
Matthew (Matt) Gillis
Howard Raber
AH
+ 1

New York

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Development Site14,862 SF
Sold 07/18/2019
the dealplayerscompscontact
Property Image
SOLD

Yards Realty Acquires Development Site On West 36th Street In Hudson Yards For $6.9M

440 W 36th St, New York, NY 10018, USA

See Similar Deals
Development Site14,862 SF
Sold 07/18/2019
Matthew (Matt) Gillis
Howard Raber
AH
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$464
Total Square Footage:14,862 SF
Transaction Type:Sale

The property involved in this closed transaction is a development site located at 440 West 36th Street in the Hudson Yards market. The sale price for this property was $6,900,000. It has a building square footage (BSF) of 14,862 and a price per building square footage (PPBSF) of $464.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $6,900,000
  • BSF: 14,862
  • PPBSF: $464
  • Address: 440 West 36th Street
  • Market: Hudson Yards

The sellers of this development site were the Friars Minor of the Order of St. Francis. The buyers were Yards Realty, LLC, represented by Jeff Huang. Matthew L. Gillis and Howard Raber served as the sellers' representatives in this transaction, while Angela Huang represented the buyers.

Players

Matthew (Matt) Gillis
Ariel Property Advisors
Matthew Gillis
25 deals$295M volume
BROKER
Howard Raber
Ariel Property Advisors
Howard Raber
17 deals$180.6M volume
BROKER
AH
Angela Huang
1 deal$6.9M volume
BROKER
JH
Jeff Huang
2 deals$8.9M volume
BUYER

Details

SOLD
IMAGE: Matthew L. Gillis & Howard Raber DATE: 07/18/2019 ADDRESS: 440 West 36th Street MARKET: Hudson Yards ASSET TYPE: Development Site SALE PRICE: $6,900,000 BSF: 14,862 PPBSF: $464 SELLER: Friars Minor of the Order of St. Francis BUYER: Yards Realty, LLC – Jeff Huang SELLERS REP: Matthew L. Gillis, Howard Raber BUYERS REP: Angela Huang […]

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$367,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,514.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,709.52
Annual Debt Service$392,514.24