Aaron Stark Acquires Development Site At 34 Union Square East Manhattan For $13.58M
34 Union Square East
$13,580,000
$522/SF
Building Size
26,000 SF
Asset Type
Development Site
Closing
Apr 29, 2026
AI
The property asset involved in the transaction is a development site located at 34 Union Square East in the Manhattan market. The sale price for this asset was $13,580,000, covering an area of 26,000 square feet, which translates to a price per square foot of $522.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $13,580,000
- Address: 34 Union Square East
- Market: Manhattan
- Square Feet: 26,000
- Price Per Square Foot: $522
- Buyer: Aaron Stark
- Brokers: Alexandra Marolda, James Nelson, Ryan McGuirl & Charles Kingsley - Avison Young
The deal was facilitated by brokers Alexandra Marolda, James Nelson, Ryan McGuirl, and Charles Kingsley representing Avison Young, who played a crucial role in bringing the buyer, Aaron Stark, and the development site to a successful transaction.
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
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93