Updated Oct 29, 2024
Hyundai Motor America Acquires Development Site In New York City For $22.5M
500 E 14th St New York, NY 10009, USA
$22,500,000
Building Size
—
Asset Type
Development Site
Closing
Jul 18, 2023
About this deal
AI
A development site located at 500 West 14th Street in New York City has been sold for a total of $22,500,000. This property offers tremendous potential for development and is situated in a prime location. The transaction took place on 07/18/2023, and the asset type is a development site.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $22,500,000
- Price per Square Foot: $3,340
- Price per Buildable Square Foot: $2,004
- Address: 500 West 14th Street, New York City
- Market: New York City
The buyer in this transaction is Hyundai Motor America, while the seller is Ed Raboy. The deal was facilitated by brokers Brock Emmetsberger, Christoffer Brodhead, Jameson Hill, and Nikola Cosic from B6 Real Estate Advisors. These professionals played a crucial role in ensuring a successful transaction.
On the Map
$22,500,000
Development Site
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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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93