Aaron Stark Acquires Corner Development Site At 34 Union Square East For $13.58M With Shay Zach's Representation
34 Union Square East
$13,580,000
$522/SF
Building Size
26,000 SF
Asset Type
Development Site
Closing
Apr 29, 2026
AI
This transaction involved a corner development site located at 34 Union Square East in the Manhattan - Union Square market. The sale price for this asset was $13,580,000, covering a total square footage of 26,000 with a price per square foot of $522.
Summary of transaction details:
- Property Type: Corner Development Site
- Transaction Amount: $13,580,000
- Address: 34 Union Square East
- Market: Manhattan - Union Square
- Square Footage: 26,000
- Price Per Square Foot: $522
- Buyer: Aaron Stark
- Buyer's Representative: Shay Zach - GAIA Property Group
Shay Zach from GAIA Property Group represented the buyer, Aaron Stark, in this sale. Notably, the broker noted that "Everybody tried - we got it sold!" highlighting the effort involved in finalizing this transaction. The firm is also looking for development sites in Manhattan or Brooklyn, encouraging property owners who are interested to reach out directly to Shay Zach.
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
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93