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Simon Fouladian Acquires Development Site In East Village For $1.675M

Property Image
SOLD
$1,675,000
Robert (Rob) Shapiro
Maurice Suede
Michael Decheser
+ 1

New York

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Development Site5,577 SF
Sold 10/27/2022
the dealplayerscompscontact
Property Image
SOLD

Simon Fouladian Acquires Development Site In East Village For $1.675M

534 East 5th Street, New York City, New York 10009, United States

See Similar Deals
Development Site5,577 SF
Sold 10/27/2022
Robert (Rob) Shapiro
Maurice Suede
Michael Decheser
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$300
Total Square Footage:5,577 SF
Transaction Type:Sale

An East Village development site located at 534 E 5th Street has been sold for $1,675,000. The property spans 5,577 square footage, resulting in a price per buildable square footage of $300. The transaction took place on October 27, 2022.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,675,000
  • Address: 534 E 5th Street, East Village
  • Market: East Village
  • Buyer: Simon Fouladian
  • Brokers: Robert Shapiro, Michael F. DeCheser, Bryan F. Hurley, Maurice Suede - Cushman & Wakefield
  • Total Square Footage: 5,577
  • Price Per Buildable Square Footage: $300

The deal was facilitated by brokers Robert Shapiro, Michael F. DeCheser, Bryan F. Hurley, and Maurice Suede, who represented Simon Fouladian as the buyer in the transaction. Cushman & Wakefield acted as the brokerage agency for the deal.

Players

Maurice Suede
Newmark
Maurice Suede
57 deals$929.6M volume(212) 589-5131
BROKER
Robert (Rob) Shapiro
CBRE
Robert Shapiro
78 deals$882.9M volume(212) 984-8082
BROKER
Bryan Hurley
Cushman & Wakefield
Bryan Hurley
42 deals$428.3M volume(212) 660-7706
BROKER
Michael Decheser
Cushman & Wakefield
Michael Decheser
41 deals$363.4M volume(917) 974-9207
BROKER

Details

SOLD
IMAGE: Robert Shapiro, Michael F. DeCheser, Bryan F. Hurley & Maurice Suede DATE: 10/27/2022 ADDRESS: 534 E 5th Street MARKET: East Village ASSET TYPE: Development Site BUYER: Simon Fouladian BROKERS: Robert Shapiro (@RMShapiro), Michael F. DeCheser (@MichaelFDeCheser), Bryan F. Hurley (@bfhurley3), Maurice Suede - Cushman & Wakefield (@CushWake) SALE PRICE: $1,675,000 BSF: 5,577 ~ PPBSF: $300

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,950.93
Cash-on-Cash Return-1.27%
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