Updated Sep 15, 2025
Michael Musto Of Development Site Advisors Represents Sale Of Development Site In Inwood For $8M
5099 Broadway & 5089 Broadway
$8,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 8, 2025
About this deal
AI
The property involved in this transaction is a development site located at 5099 Broadway and 5089 Broadway in the Inwood market. The sale price of the asset was $8,000,000, with a total lot size of 12,362 square feet, resulting in a price per square foot of $647. The zoning classifications for this site are R7D, C2-4, IN, and MIH.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,000,000
- Lot Size: 12,362 sq ft
- Price per Lot Square Foot: $647
- Zoning: R7D, C2-4, IN, MIH
- Broker: Michael Musto - Development Site Advisors
Michael Musto from Development Site Advisors represented the transaction, facilitating the deal for the development site. His role as the broker was crucial in the successful completion of the transaction.
On the Map
$8,000,000
Development Site
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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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93