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
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