Eddie Bender & Damien Smith Of Prosper Property Group Acquire Development Site In Flatiron District For $16.22M
SOLD
$16,220,000
New York
See Similar DealsDevelopment Site
Sold 07/22/2025
SOLD
Eddie Bender & Damien Smith Of Prosper Property Group Acquire Development Site In Flatiron District For $16.22M
10 West 17th Street
See Similar DealsDevelopment Site
Sold 07/22/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
The development site located at 10 West 17th Street in the Flatiron District has been sold for a transaction amount of $16,220,000. The property encompasses a total built square footage of 41,400, translating to a price per built square foot of $391.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $16,220,000
- Address: 10 West 17th Street
- Market: Flatiron District
- Total Built Square Feet: 41,400
- Price Per Built Square Foot: $391
The transaction was executed by the buyer, Eddie Bender and Damien Smith, both of Prosper Property Group. They are instrumental in finalizing the details of this deal within the competitive Flatiron District market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$865,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,626.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,891.08
Annual Debt Service$922,692.90
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