Simon Lou / Hotel Real Estate Group
Listed by Simon Lou / Hotel Real Estate Group
$38,000,000
Manhattan 60x100 Residential Development Site
Details
Property Type Land
Sub Type Residential
Square Footage 55,000
Net Rentable (SqFt) 50,000
Units 62
Cap Rate 3.95%
NOI $1,500,000
Occupancy 100%
Lease Expiration 02/28/2025
Lease Options N/A
Pro-Forma Cap Rate 7.89%
Pro-Forma NOI $3,000,000
Price per SqFt $691
Class B
Year Built 1920
Year Renovated 2010
Buildings 2
Stories 4
Lot Size (SqFt) 50,000
Zoning N/A
Investment Type Value Add
Occupancy Date 04/30/2024
Ownership N/A
Land | 50,000 SF
Marketing description
Manhattan Prime / Rare Development Opportunity
Residential Development Site
Lot: 6,000 Gross
Buildable 60,000 sq. ft.
Please contact listing broker for further information:
Hotel Real Estate Group
Simon Lou
President / CEO
445 Park Av. 9th Floor
New York NY 10022
Investment highlights
Manhattan Prime / Rare Development Opportunity
Residential Development Site
Lot: 6,000 Gross
Buildable 60,000 sq. ft.
Please contact listing broker for further information:
Hotel Real Estate Group
Simon Lou
President / CEO
445 Park Av. 9th Floor
New York NY 10022
Listing Contacts
Simon Lou / Hotel Real Estate Group
Listed by Simon Lou / Hotel Real Estate Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,500,000.00
$125,000.00/mo
Valuation Metrics
0
DSCR
3.95%
Cap Rate
3.95%
ROI
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