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
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.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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