Anbau, Inc Acquires Development Site In Flatiron District, Manhattan For $15.5M
10 West 17th Street, New York City, New York 10011, United States
$15,500,000
$378,048/SF
Building Size
41 SF
Asset Type
MultiFamily
Closing
Dec 16, 2022
AI
Anbau, Inc has acquired a development site located at 10 West 17th Street in the Flatiron District of Manhattan. The transaction took place on December 16, 2022. The property is a development site, indicating its potential for future construction or expansion. The sale price for this transaction was $15,500,000, with a total buildable square footage (BSF) of 41,400. The price per buildable square foot (PPBSF) was approximately $374.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $15,500,000
- Address: 10 West 17th Street
- Market: Flatiron District, Manhattan
- Buyer: Anbau, Inc - Alexander H. Glascock
- Seller: Arun Bhatia Development Organization
- Total Buildable Square Footage: 41,400
- Price per Buildable Square Foot: $374
The buyer in this transaction is Anbau, Inc, represented by Alexander H. Glascock. The seller is Arun Bhatia Development Organization. The acquisition of this development site presents an opportunity for Anbau, Inc to further enhance its portfolio in the Flatiron District of Manhattan.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93