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49 Herbert St

Arthur Lovejoy Sells Development Site At 49 Herbert St New York For $2.1M
SOLDDevelopment Site

Arthur Lovejoy Sells Development Site At 49 Herbert St New York For $2.1M

49 Herbert St

$2,100,000

Building Size

Asset Type

Development Site

Closing

Nov 19, 2024

AI

The asset involved in this transaction is a development site located at 49 Herbert St, New York. The transaction was completed for a price of $2,100,000.00.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $2,100,000.00
  • Address: 49 Herbert St
  • Market: New York
  • Seller: Arthur Lovejoy
  • Brokers: Josh Lipton - Invictus; Andrew Levine - Invictus

This transaction highlights the involvement of brokers Josh Lipton and Andrew Levine, both representing Invictus in this deal. The seller of the property, Arthur Lovejoy, played a key role in the successful closure of this transaction.

Players

Andrew Levine

Invictus Property Advisors

Broker

$453.3M

vol

67 deals

Broker

Arthur Lovejoy

Seller
Seller

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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93