Cushman & Wakefield Brokers Sell Development Site On Madison Street In Two Bridges For $5.25M
SOLD
$5,250,000
+ 2
New York
See Similar DealsDevelopment Site17,300 SF
Sold 11/21/2023
SOLD
Cushman & Wakefield Brokers Sell Development Site On Madison Street In Two Bridges For $5.25M
83 Madison Street
See Similar DealsDevelopment Site17,300 SF
Sold 11/21/2023
+ 2
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$303
Total Square Footage:17,300 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14
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