Davis Companies Acquires Former Gothic Methodist Church Site On Madison Ave For $12M
1971 Madison Ave New York, NY 10035, USA
$12,000,000
Building Size
—
Asset Type
Land
Closing
Jul 31, 2023
AI
The Davis Companies has acquired the site of the former Gothic Methodist church located at 1971 Madison Avenue, Manhattan, for a sale price of $12,000,000. The transaction took place on July 31, 2023.
Summary of Transaction Details:
- Property Type: Land
- Transaction Amount: $12,000,000
- Address: 1971 Madison Avenue, Manhattan
- Market: Manhattan
- Buyer: Davis Companies - Jonathan G. Davis
- Seller: RoundSquare Development
The Davis Companies, represented by Jonathan G. Davis, successfully acquired the former Gothic Methodist church site at 1971 Madison Avenue in Manhattan. The transaction marks a significant investment in the land, showcasing the Davis Companies' commitment to expanding their real estate portfolio. The sale price represents a substantial monetary commitment towards the acquisition.
New York Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93