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556 Broome Street

Development Site At 556 Broome Street Sold For $9,555,000 With Seller's Representatives Robert Burton Bobby Carrozzo & Michael Gembecki
SOLDDevelopment Site

Development Site At 556 Broome Street Sold For $9,555,000 With Seller's Representatives Robert Burton Bobby Carrozzo & Michael Gembecki

556 Broome Street

$9,555,000

$923/SF

Building Size

10,348 SF

Asset Type

Development Site

Closing

Jun 3, 2026

AI

The asset involved in this transaction is a development site located at 556 Broome Street in the Hudson Square market. The sale price was $9,555,000, with a building square footage (BSF) of 21,125 and a price per building square foot (PPBSF) of $452. The total square footage (SF) is 10,348, leading to a price per square foot (PPSF) of $923.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $9,555,000
  • Address: 556 Broome Street
  • Market: Hudson Square
  • Building Square Footage: 21,125
  • Price per Building Square Foot: $452
  • Total Square Footage: 10,348
  • Price per Square Foot: $923
  • Seller's Representatives: Robert Burton, Bobby Carrozzo & Michael Gembecki - Cushman & Wakefield

The transaction was facilitated by Robert Burton, Bobby Carrozzo, and Michael Gembecki, who are representatives from Cushman & Wakefield. Their involvement contributed to the successful closure of this development site sale in Hudson Square.

Players

Michael Gembecki

Cushman & Wakefield

Broker

$449.8M

vol

35 deals

Broker

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

1.66%

Cash-on-Cash

-0.47%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93