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
About this deal
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
Loading comparables…
Deal FAQ
Browse New York land sales on Traded.
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