Cris Burnam Acquires Mixed-Use Property On Spring Street In Hudson Square For $367.7M
260 Spring Street, New York City, New York 10013, United States
$367,700,000
$1,306/SF
Building Size
281,387 SF
Asset Type
Mixed-use
Closing
Dec 15, 2021
AI
The property located at 260 & 272 Spring Street in Hudson Square, Manhattan, has been sold for a total price of $367,700,000. This mixed-use asset spans a total square footage of 281,387, with a building size of 416,900 BSF and a price per BSF of $882. The property features zoning classified as M1-6, HSQ, and consists of a lot size measuring 25,460 square feet with dimensions of 175 ft x 150 ft. The FAR is 11.05 and the tax class is 4.
Summary of transaction details:
- Property Type: Mixed Use
- Transaction Amount: $367,700,000
- Buyer: Cris Burnam
- Seller: Jon Dario
- Building Size (BSF): 416,900
- Price Per BSF: $882
- Square Footage (SF): 281,387
- Price Per SF: $1,308
- FAR: 11.05
- Tax Class: 4
- Lot Size: 25,460
- Last Sale Price: $0 (2/27/1998)
- Lot Dimension: 175 ft x 150 ft
In this transaction, Cris Burnam acted as the buyer, while Jon Dario represented the seller. The transaction was completed on December 16, 2021, and marks the first sale recorded for this property since February 27, 1998.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93