Updated Jun 6, 2025
Xiao Ke Tang Purchases Development Site At 711 West 179th Street From Gates Of Hope For $4.15M
711 West 179th Street
$4,150,000
Building Size
—
Asset Type
Development Site
Closing
May 29, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 711 West 179th Street in the Washington Heights neighborhood of Manhattan. The transaction was completed for a sale price of $4,150,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,150,000
- Buyer: Xiao Ke Tang
- Seller: Gates of Hope
- Sale Date: 05/29/2025
Developer Xiao Ke Tang is under contract to purchase the property from the Orthodox Jewish congregation known as Gates of Hope. The transaction highlights the engagement of specific parties involved in the sale without delving further into the potential implications of the deal.
On the Map
$4,150,000
Development Site
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New York Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93