Extell Development Acquires Development Site From Sae-A Trading For $175 Million In New York
SOLD
$175,000,000
New York
See Similar DealsDevelopment Site75,615 SF
Sold 03/21/2025
SOLD
Extell Development Acquires Development Site From Sae-A Trading For $175 Million In New York
576 5th Avenue
See Similar DealsDevelopment Site75,615 SF
Sold 03/21/2025
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$2,314
Total Square Footage:75,615 SF
Transaction Type:Sale
The property involved in the transaction is a development site located at 576 5th Avenue in New York. The asset has a square footage of 75,615.0 and was sold for $175,000,000.00.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $175,000,000.00
- Buyer: Extell Development
- Seller: Sae-A Trading
- Market: New York
- Square Footage: 75,615.0
The transaction took place on March 21, 2025, marking a significant deal between Extell Development, the acquiring party, and Sae-A Trading, the selling party.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$621,738.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$829,589.28
Annual Debt Service$9,955,071.37
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