JLL Capital Markets arranges $53 million sale of 75-83 Nassau St. development site

Manhattan, NY JLL Capital Markets has arranged the $53 million sale of 75–83 Nassau St., a development site located in the Financial District.

JLL represented the seller, N.Y.-based investment firm Lexin Capital and negotiated directly with the buyer, Fulltime Management and Montgomery Street Partners, which plan to build a mixed-use project on the site, one of the city’s last 421a-vested land parcels.

Assembled over several years by the seller, 75–83 Nassau St. is located near the Fulton St. transit hub in FiDi and offers 275,000 s/f of permitted zoning floor area, including 225,000 s/f of residential space. The buyer plans a residential-led tower that includes ground-floor retail and second-floor commercial space. 

The JLL Capital Markets team was led by Andrew Scandalios, Ethan Stanton, Jonathan Hageman and Michael Mazzara.