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ZD Jasper Realty Acquires Development Site On Ninth Avenue For $48M

485-487, 489-491 & 497 Ninth Avenue & 501 Ninth Avenue
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This Development Site property located in NY was sold for $48,000,000 almost 2 years ago. The broker of the deal was David Krantz

485-487, 489-491 & 497 Ninth Avenue & 501 Ninth Avenue, located in the Clinton & Hell's Kitchen neighborhood, has been sold for $48,000,000. The development site spans a total of 120,000 square feet, with a price per buildable square foot (PPBSF) of $400. The transaction was completed on 05/10/2022.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $48,000,000
  • Buyer: ZD Jasper Realty
  • Seller's Representative: David Krantz - Savills
  • BSF: 120,000
  • PPBSF: $400

David Krantz from Savills represented the seller in this transaction. ZD Jasper Realty was the buyer. The sale of this development site marks a significant transaction in the Clinton & Hell's Kitchen market.

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Deals
  • Location
    485 Ninth Avenue, New York City, New York 10018, United States485 Ninth Avenue, New York City, New York 10018, United States
  • Sale Price
    $48,000,000$48,000,000
    $400 PPSF$400 PPSF
  • Area
    120,000 SF120,000 SF
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    1 Broker1 Broker

Agent

David Krantz

David Krantz

Deals6
Financed$302.3M

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Deal Summary

SALE IMAGE: David Krantz DATE: 05/10/2022 ADDRESS: 485-487, 489-491 & 497 Ninth Avenue & 501 Ninth Avenue MARKET: Clinton & Hell's Kitchen ASSET TYPE: Development Site BUYER: ZD Jasper Realty SELLER'S REP: David Krantz - Savills (@Savills) SALE PRICE: $48,000,000 BSF: 120,000 ~ PPBSF: $400

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485-487, 489-491 & 497 Ninth Avenue & 501 Ninth Avenue

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