ZD Jasper Realty Acquires Development Site On Ninth Avenue For $48M
485 Ninth Avenue, New York City, New York 10018, United States
$48,000,000
$400/SF
Building Size
120,000 SF
Asset Type
Development Site
Closing
May 9, 2022
AI
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.
City of Schenectady 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93