Cushman & Wakefield Sells New York City Development Site For $34.6M | 534 West 28th Street | Robert Burton, Michael Gembecki, Bobby Carrozzo, Michael Decheser, Bryan Hurley | Development Site | Sale

Summary

Sale

NEW YORK

Development Site

Cushman & Wakefield has announced the highest $/ZFA development site sale of 2023 in New York City. The property, located at 534 West 28th Street, is a development site with a sale price of $34,572,070. In addition to the land sale, the price also includes the purchase of required High Line Transfer Rights.

Summary of transation details

Property Type: Development Site
Transaction Amount: $34,572,070
Market: New York City

Bryan Hurley, Michael Decheser, Michael Gembecki, Bobby Carrozzo, and Robert Burton from Cushman & Wakefield represented the buyer in this transaction. Their competitive marketing process attracted interest from over a dozen developers, culminating in an all-cash transaction that eliminated financing risk. For more information about this deal or to evaluate other assets, contact Bryan Hurley at (212) 660 7706 or [email protected], or Michael Decheser at (212) 660 7772 or [email protected].

Players

All
6

Agents
5
Agencies
1

Robert Burton

Sr. Managing Director

$429.9M Sold

$259.8M Sold

$258.3M Sold

Sr. Managing Director

$261.5M Sold

Bryan Hurley

Associate Director

$256.2M Sold

Cushman & Wakefield

Details

Deal Summary

SOLD

IMAGE: Michael Decheser, Michael Gembecki, Bryan Hurley, Bobby Carrozzo & Robert Burton DATE: 06/06/2023 ADDRESS: 534 West 28th Street MARKET: New York City ASSET TYPE: Development Site BROKERS: Bryan Hurley (@BfHurley3), Michael Decheser (@MichaelfDecheser), Michael Gembecki, Bobby Carrozzo (@Bobby_Carrozzo) & Robert Burton (@Downtown_Soho_Investment_Sales) - Cushman & Wakefield (@CushWake) SALE PRICE: $34,572,070 NOTE FROM BROKER: Cushman & Wakefield is proud to announce the highest $/ZFA development site sale of 2023! In an uncertain market, our team was able to procure interest from over a dozen developers leading to a YTD high for non-assemblage development sites. Our competitive marketing process allowed us to close the land sale with a buyer in a true all-cash transaction eliminating financing risk. If you have any questions about the deal or assets you'd like our team to evaluate please reach out to the contacts below. The total sales price reflects the land sale and the price to purchase required High Line Transfer Rights. Bryan F. Hurley (212) 660 7706 [email protected] Michael F. DeCheser (212) 660 7772 [email protected]

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Address534 West 28th Street

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