ZD Jasper Realty Acquires Development Site On Ninth Avenue For $48M
SOLD
$48,000,000
New York
See Similar DealsDevelopment Site120,000 SF
Sold
SOLD
ZD Jasper Realty Acquires Development Site On Ninth Avenue For $48M
485 Ninth Avenue, New York City, New York 10018, United States
See Similar DealsDevelopment Site120,000 SF
Sold
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$400
Total Square Footage:120000 SF
Transaction Type:Sale
The property asset involved in the transaction is a development site located at 485-487, 489-491 & 497 Ninth Avenue & 501 Ninth Avenue in the Clinton & Hell's Kitchen market. The sale price was $48,000,000, with a building square footage (BSF) of 120,000, resulting in a price per building square foot (PPBSF) of $400.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $48,000,000
- BSF: 120,000
- PPBSF: $400
- Buyer: ZD Jasper Realty
- Seller's Representative: David Krantz - Savills
The deal was conducted with David Krantz representing the seller, ensuring effective negotiation and management of the transaction process on behalf of the seller involved in the sale.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,560,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$170,533.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$227,544.49
Annual Debt Service$2,730,533.86
Is there something missing? Send suggestions