267 Broadway
This is a clean land acquisition by a credible, repeat sponsor — The Rabsky Group — in a highly active development corridor along lower Broadway in Manhattan, proximate to the Financial District, Tribeca, and City Hall. The $579 PPSF is consistent with comparable development site transactions in this submarket, supported by the 10 comps listed, and reflects reasonable market pricing for a site of this scale. No distress indicators, liens, litigation, or foreclosure flags are present, and the JLL brokerage team represents institutional-quality deal execution. The primary risk factors are execution risk on ground-up development in a still-recovering Manhattan office and residential market, and the absence of disclosed financing terms, which limits underwriting visibility on leverage. Overall, this is a solid land acquisition with a known buyer, clean title signals, and credible submarket demand drivers.
Deal Stats
Parties
Seller / Landlord
Braha Industries & Roe Corporation
Braha Industries and Roe Corporation are established NYC real estate entities with long-standing holdings in Manhattan's lower Broadway corridor; Braha Industries in particular has been a known landowner and developer in the Downtown Manhattan and Tribeca markets for decades.
Buyer / Tenant
The Rabsky Group ()
The Rabsky Group is a prominent Brooklyn-based developer with a strong track record of large-scale residential and mixed-use development projects across NYC, including significant activity in Downtown Brooklyn, Williamsburg, and Manhattan. They are known as an experienced, well-capitalized sponsor with a history of executing complex ground-up development projects.
Score Analysis
Why this score
Sponsor Track Record
The Rabsky Group's established history of executing large-scale mixed-use projects across prime NYC submarkets demonstrates development capability and financial stability.
Submarket Fundamentals
Lower Broadway's proximity to the Financial District, Tribeca, and City Hall positions the site in a highly active development corridor with strong long-term demand drivers.
Valuation Support
The $579/SF pricing is validated by 10 comparable development site transactions, indicating fair market value with no upside/downside surprise risk.
Manhattan Office Market Uncertainty
Ground-up development execution risk remains elevated given the still-recovering Manhattan office market, which could impact absorption and value realization timelines.
Financing Opacity
Absence of disclosed financing terms limits visibility into leverage levels and refinancing risk, preventing full capital structure underwriting.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Disclose financing structure and LTV
Publishing loan amount, lender identity, and debt-to-equity ratio would clarify leverage risk and provide confidence in sponsor capitalization for development phase.
Obtain preliminary development approvals or zoning letter
Early-stage confirmation of zoning compliance, FAR assumptions, or preliminary design review approval would reduce execution risk and timeline uncertainty.
Publish detailed comps analysis
Transparent breakdown of the 10 comparable transactions (sale dates, SF, price per SF, buyer/seller profiles) would strengthen valuation credibility and market positioning.
Raw Deal Textclick to expand
Submit Deals New York Development Site Sale 267 Broadway The Rabsky Group Acquires Development Site At 267 Broadway From Braha Industries & Roe Corporation For $30M SOLD $30,000,000 + 2 51,730 SF Sold 2 weeks ago the deal players comps contact related Summary NEW YORK Asset Type: Price Per Square Foot: $579 Total Square Footage: Transaction Type: The asset involved in the transaction is a development site located at 267 Broadway in Manhattan. The property was sold for $30,000,000, encompassing a total area of 51,730 square feet, which translates to a price per square foot of $579. Summary of transaction details: Property Type: Development Site Transaction Amount: $30,000,000 Address: 267 Broadway Market: Manhattan Square Footage: 51,730 Price per Square Foot: $579 Buyer: The Rabsky Group Seller: Braha Industries & Roe Corporation Brokers: Ethan Stanton, Teddy Galligan, Jonathan Hageman, Michael Mazzara & Brett Baskin - JLL The transaction was represented by a team of brokers from JLL, including Ethan Stanton, Teddy Galligan, Jonathan Hageman, Michael Mazzara, and Brett Baskin. The Rabsky Group acquired the site from the combined interests of Braha Industries and Roe Corporation. See More Players All Brokers Ethan Stanton 133 deals $6.1B volume (516) 790-7718 BROKER Jonathan Hageman 59 deals $2.5B volume (212) 812-5995 Teddy Galligan 58 deals $854.9M volume Michael Mazzara 111 deals $3.9B volume (212) 376-5450 Brett Baskin 2 deals $78.3M volume (610) 945-4908 Details Deal Summary IMAGE: Ethan Stanton, Teddy Galligan, Jonathan Hageman, Michael Mazzara, Brendan Maddigan & Brett Baskin DATE: 5/14/2026 ADDRESS: 267 Broadway MARKET: Manhattan ASSET TYPE: Development Site BUYER: The Rabsky Group (@RabskyGroup) SELLER: Braha Industries & Roe Corporation BROKERS: Ethan Stanton, Teddy Galligan, Jonathan Hageman, Michael Mazzara & Brett Baskin - JLL (@JLL) SALE PRICE: $30,000,000 SF: 51,730 ~ PPSF: $579 Email New York | @tradedny Contact Get in touch with the broker you want Select Brokers Jonathan (Jon) Hageman, Ethan Stanton, Teddy Galligan, Michael Mazzara, Brett Baskin Name Phone (optional) Message I'm an agent These are similar buyers of Development Site properties Unlock All Profiles Unlimited deal views Access investor profiles & contacts Exclusive comps & market data These are similar brokers based on this deal Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map. NEW! Search No recent news available for this market No active listings available for this market Suggestions Analyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results. Deal Type SALE LOAN LEASE Purchase Price Loan-to-Value (%) Interest Rate (%) Amortization Period 30 years Loan Term 10 years Operating Income Gross Potential Rent (Annual) Vacancy Rate (%) Operating Expenses (Annual) Property Tax Insurance Maintenance Utilities Management Reserves Reset Net Operating Income (NOI) $1,600,000.01 Debt Service Coverage Ratio (DSCR) 0.94x DSCR below 1.0x - deal does not cover debt service Cap Rate 5.33% Cash Flow (Annual) -$106,583.66 Cash-on-Cash Return -1.27% Monthly Debt Service $142,215.31 Annual Debt Service $1,706,583.66 Is there something missing? Send suggestions We are telling CRE's story Traded is the #1 source for cutting edge CRE transactions & insights. States National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming News Agents Agencies About About Us FAQ Testimonials Help Help Center Return Policy © 2026 Traded Media LLC . All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use