Updated Dec 4, 2024
FBE Limited Acquires Development Site In Washington Heights For $26M
4650 Broadway, New York, NY 10040, USA
Building Size
47,175 SF
Asset Type
Development Site
Closing
Apr 20, 2018
About this deal
AI
The development site located at 4650 Broadway in New York's Washington Heights neighborhood has been sold for $26,000,000. The property spans a total lot size of 47,175 square feet and has a total rentable building square footage (RBSF) of 87,282 square feet. Additionally, the property has a commercial floor area (CF BSF) of 231,637 square feet.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $26,000,000
- Lot Size: 47,175 square feet
- RBSF: 87,282 square feet
- CF BSF: 231,637 square feet
The seller of the property was Acadia Realty Trust, represented by Kenneth Bernstein, Joel Braun, and Christopher Conlon. On the other hand, the buyer of the property was FBE Limited, represented by Abraham Fruchthandler.
On the Map
Development Site
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Players
Market 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93