ZD Jasper Realty Acquires Development Site On Ninth Avenue For $48M

485-487, 489-491 & 497 Ninth Avenue & 501 Ninth Avenue, located in the Clinton & Hell's Kitchen neighborhood, has been sold for $48,000,000. The development site spans a total of 120,000 square feet, with a price per buildable square foot (PPBSF) of $400. The transaction was completed on 05/10/2022.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $48,000,000
• Buyer: ZD Jasper Realty
• Seller's Representative: David Krantz - Savills
• BSF: 120,000
• PPBSF: $400

David Krantz from Savills represented the seller in this transaction. ZD Jasper Realty was the buyer. The sale of this development site marks a significant transaction in the Clinton & Hell's Kitchen market.