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Shlomi Avdoo And Jonathan Lavian Acquire Development Site In Hudson Square For $63M

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SOLD
$63,000,000

New York

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Development Site125,900 SF
Sold 12/29/2025
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Property Image
SOLD

Shlomi Avdoo And Jonathan Lavian Acquire Development Site In Hudson Square For $63M

68 King Street

See Similar Deals
Development Site125,900 SF
Sold 12/29/2025
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Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$500
Total Square Footage:125,900 SF
Transaction Type:Sale

The property involved in this transaction is a development site located at 68-76 King Street in Hudson Square, Manhattan. The sale price was $63,000,000, and the total square footage of the site is 125,900, which corresponds to a price per square foot of $500.

Summary of transaction details:

Shlomi Avdoo and Jonathan Lavian were the buyers of the property, representing themselves in this transaction. The brokerage team from Avison Young, consisting of Brandon Polakoff, James Nelson, and Charles Kingsley, facilitated the transaction on behalf of the involved parties.

Players

Brandon Polakoff
124 deals$1.8B volume
BROKER

James Nelson
Avison Young
85 deals$1.9B volume
BROKER

Charles (Chas) Kingsley
Avison Young
15 deals$594.5M volume
BROKER

Avison Young
BROKERAGE

Details

SOLD
IMAGE: James Nelson, Charles Kingsley, Brandon Polakoff, Jonathan Lavian & Shlomi Avdoo DATE: 12/29/2025 ADDRESS: 68-76 King Street MARKET: Hudson Square, Manhattan ASSET TYPE: Development Site BUYER: Shlomi Avdoo & Jonathan Lavian - Avdoo BROKERS: Brandon Polakoff (@BfPolly), James Nelson (@JamesNelsonNYC) & Charles Kingsley (@ChasKingsley) - Avison Young (@Avison_Young_Global) SALE PRICE: $63,000,000 SF: 125,900 ~ PPSF: $500

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,360,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$223,825.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$298,652.14
Annual Debt Service$3,583,825.69