facebook
Traded Co logo
Submit

Manuel Glas Acquires Tribeca Development Site On White Street For $20.5M

Property Image
SOLD
$20,500,000

New York

See Similar Deals
Development Site43,000 SF
Sold 12/23/2021
the dealplayerscompscontact
Property Image
SOLD

Manuel Glas Acquires Tribeca Development Site On White Street For $20.5M

88 White Street, New York City, New York 10013, United States

See Similar Deals
Development Site43,000 SF
Sold 12/23/2021
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$476
Total Square Footage:43,000 SF
Transaction Type:Sale

Located in the Tribeca neighborhood, the development site at 88-90 White Street has been sold for a total price of $20,500,000. The property spans an area of 43,000 square feet and has a price per buildable square foot (PPBSF) of $476. The transaction took place on 12/23/2021 and involved the buyer, Manuel Glas, and the seller, The O'Kane Family.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $20,500,000
  • Address: 88-90 White Street
  • Market: Tribeca

The seller's representatives in this deal were Stephen Dadourian and Jonathan Buerger from B6 Real Estate Advisors. They played a crucial role in facilitating the transaction between Manuel Glas and The O'Kane Family. The sale of this development site marks a significant milestone in the Tribeca real estate market.

Players

Stephen Dadourian
9 deals$75.9M volume(908) 403-8509
BROKER

Jonathan Buerger
B6 Real Estate Advisors
7 deals$54.2M volume
BROKER

Details

SOLD
IMAGE: Jonathan Buerger & Stephen Dadourian DATE: 12/23/2021 ADDRESS: 88-90 White Street MARKET: Tribeca ASSET TYPE: Development Site BUYER: Manuel Glas SELLER: The O'Kane Family SELLER'S REP: Stephen Dadourian (@Dadourian_Team) & Jonathan Buerger (@Jonathan_Buerger) - B6 Real Estate Advisors (@B6RealEstate) SALE PRICE: $20,500,000 BSF: 43,000 ~ PPBSF: $476

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,093,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$72,832.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$97,180.46
Annual Debt Service$1,166,165.50