Broad Street Development Acquires Development Site At 80 Broad Street For $250 Million

The property asset involved in this transaction is a development site located at 80 Broad Street in the Financial District. The transaction was valued at $250,000,000, and the asset encompasses 375,000 square feet, with a price per square foot of $667.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $250,000,000
• Address: 80 Broad Street
• Market: Financial District
• Square Footage: 375,000
• Price Per Square Foot: $667
• Buyer: Ray Chalme, Daniel Blanco, David Israni, Matt Sobel & Ben Kahan - Broad Street Development

The key individuals behind this transaction are Ray Chalme, Daniel Blanco, David Israni, Matt Sobel, and Ben Kahan, who represent Broad Street Development. They have recapitalized the office building at this location with One Investment Management, planning to convert the asset into 326 units via the 467-M program. The total capitalization for this project amounts to $250 million.