Updated May 21, 2025
Stagg Group Acquires Multifamily Development Site From Brad Greiwe For $27 Million In White Plains
60 South Broadway
$27,000,000
Building Size
—
Asset Type
Development Site
Closing
May 21, 2025
About this deal
AI
The asset involved in this transaction is a 3.6-acre multifamily development site located at 60 South Broadway in White Plains. It has been acquired for $27,000,000, reflecting its market value in the real estate sector.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $27,000,000
- Buyer: Stagg
- Seller: Brad Greiwe - Quarterra Multifamily Communities
- Brokers: Eric Apfel, Jeffrey Dunne & Travis Langer - CBRE
The transaction was brokered by Eric Apfel, Jeffrey Dunne, and Travis Langer from CBRE, representing the buyer, Stagg, in this acquisition. The site is positioned for multifamily development, aligning with current market trends in the area.
On the Map
$27,000,000
Development Site
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Players
White Plains 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93