Updated Oct 28, 2024
Related Companies Acquires Dev. Site In Hudson Yards For $77M
511 West 35th Street, New York, NY, USA
$77,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 28, 2021
About this deal
AI
511 West 35th Street, 506 & 512 West 36th Street, located in the Hudson Yards market, was sold as a development site for $77,000,000. The property is a dev. site with a significant potential for construction and development.
Summary of transaction details
- Property Type: Dev. Site 🏗
- Transaction Amount: $77,000,000
- Buyer: Related Companies - Jeff Blau & Stephen Ross
- Seller: Spitzer Enterprises - Eliot Spitzer
- Date: 10/28/2021
The buyer of the property is Related Companies, represented by Jeff Blau and Stephen Ross. The seller, on the other hand, is Spitzer Enterprises, with Eliot Spitzer acting as their representative in the deal.
On the Map
$77,000,000
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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93