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72 Nassau Street

Updated May 12, 2025

Malachite Group Acquires Development Site At 72 Nassau Street From Citizens Bank For $18.36M
SOLDDevelopment Site

Malachite Group Acquires Development Site At 72 Nassau Street From Citizens Bank For $18.36M

72 Nassau Street

$18,360,000

$765/SF

Building Size

24,000 SF

Asset Type

Development Site

Closing

Mar 15, 2025

About this deal

AI

The asset involved in the transaction is a development site located at 72 Nassau Street in the Financial District. The buyer, Malachite Group, acquired the property from seller Bruce Van Saun of Citizens Bank for a transaction amount of $18,360,000. The site has a total building square footage of 24,000, translating to a price per square foot of $765. The building size is approximately 90,000 BSF, with a price per BSF of $204.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $18,360,000
  • Buyer: Malachite Group
  • Seller: Bruce Van Saun - Citizens Bank
  • Broker Representatives: Brett Siegel & Ronald Solarz - Newmark
  • Building Size (SF): 24,000
  • Price per SF: $765
  • Building Size (BSF): 90,000
  • Price per BSF: $204

The individuals involved in this transaction include brokers Brett Siegel and Ronald Solarz, who represented the interests of the buyer, Malachite Group, and the seller, Bruce Van Saun from Citizens Bank. Their involvement was crucial in facilitating the completion of this deal.

On the Map

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$18,360,000

$765/SF

Development Site

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Players

Brett Siegel

Newmark

Broker

$6.5B

vol

85 deals

Broker
MG
Malachite GroupBuyer
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New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Deal FAQ

About $765 per square foot on a published $18.4M for 24,000 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.86%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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