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
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