Updated Dec 4, 2024
Cushman & Wakefield Brokers Sell Development Site On Madison Street In Two Bridges For $5.25M
83 Madison Street
$5,250,000
$303/SF
Building Size
17,300 SF
Asset Type
Development Site
Closing
Nov 21, 2023
About this deal
AI
A development site located at 83 Madison Street in Two Bridges, Manhattan has been sold for $5,250,000. The property spans approximately 17,300 square feet, with a price per square foot of $303. This transaction was facilitated by Bobby Carrozzo, Robert Burton, Michael Gembecki, Bryan Hurley, and Michael Decheser of Cushman & Wakefield.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,250,000
- Address: 83 Madison Street
- Market: Two Bridges, Manhattan
- BSF: 17,300
- PPSF: $303
The sale of this development site showcases the expertise of the Cushman & Wakefield team, consisting of Bobby Carrozzo, Robert Burton, Michael Gembecki, Bryan Hurley, and Michael Decheser. Their collective efforts played a crucial role in successfully closing this transaction, demonstrating their deep understanding of the Two Bridges market and their ability to deliver optimal results to their clients.
On the Map
$5,250,000
$303/SF
Development Site
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Players
New York 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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93