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440 W 36th St, New York, NY...

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

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

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

$6,900,000

$464/SF

Building Size

14,862 SF

Asset Type

Development Site

Closing

Jul 17, 2019

AI

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 Gillis

Ariel Property Advisors

Broker

$295M

vol

25 deals

Broker

Jeff Huang

Buyer

$8.9M

vol

2 deals

Buyer

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

2.30%

Cash-on-Cash

-0.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93