L&M Development Partners & Taconic Partners Acquire Development Site In Inwood For Ground Lease
407 West 206th Street, New York City, New York 10034, United States
Building Size
34,000 SF
Asset Type
Mixed-use
Closing
Jul 13, 2022
AI
An ground lease for a development site has been closed in the Inwood market. The property, located at 407 West 206th Street, was part of a deal between landlord AAG Management and tenant L+M Development Partners & Taconic Partners. The lease terms are for a duration of 99 years, with an asking rent of $61 per square foot and a building square footage of 360,892. Lisa Gomez, Charles Bendit, and Paul Pariser are shown in the image associated with this transaction.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: Not mentioned in the CONTEXT
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93