GO Partners And RXR Acquire Sutton Place North And One East River Place For $825M
SOLD
$52,500,000
Florida
See Similar DealsRetail618,370 SF
Sold 09/26/2018
SOLD
GO Partners And RXR Acquire Sutton Place North And One East River Place For $825M
401 East 60th Street
See Similar DealsRetail618,370 SF
Sold 09/26/2018
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$84
Total Square Footage:618,370 SF
Transaction Type:Sale
The recent sale transaction involves the properties located at 420 E 61st St. (One Sutton Place North), 1113 York Ave. (Two Sutton Place North), and 525 E 72nd St. (One East River Place) in the Upper East Side of New York City. These properties fall under the category of multifamily assets.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $825,000,000
- Units: 850
- Price Per Unit (PPU): $970,588
- Date: 11/28/2022
- Market: Upper East Side
- Buyer: GO Partners - Josh Gotlib and Meyer Orbach; RXR - Scott Rechler and Russ Young
- Seller: Sheldon Solow
- Brokers: Adam Spies, Adam Doneger, Doug Harmon, and Marcella Fasulo - Cushman & Wakefield
The buyer includes GO Partners represented by Josh Gotlib and Meyer Orbach, as well as RXR represented by Scott Rechler and Russ Young. The seller in this transaction is Sheldon Solow. The brokers involved in this deal were Adam Spies, Adam Doneger, Doug Harmon, and Marcella Fasulo from Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,800,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$186,521.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$248,876.78
Annual Debt Service$2,986,521.41
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