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112 E. 19th Street (Ground ...

Jonathan Feistmann, MD Acquires Office Co-op In Gramercy Park, Manhattan For $1.95M
SOLD

Jonathan Feistmann, MD Acquires Office Co-op In Gramercy Park, Manhattan For $1.95M

112 E. 19th Street (Ground Floor & Basement)

$1,950,000

Building Size

Asset Type

Closing

Aug 31, 2022

AI

The property involved in this closed transaction is an office co-op located at 112 E. 19th Street in the Gramercy Park neighborhood of Manhattan. The property consists of the ground floor and basement, spanning a total of 5,359 square feet. The sale price for this asset was $1,950,000, resulting in a price per square foot of $363.

Summary of transaction details

  • Property Type: Office Co-op
  • Transaction Amount: $1,950,000
  • Address: 112 E. 19th Street (Ground Floor & Basement)
  • Market: Gramercy Park, Manhattan
  • Square Footage: 5,359
  • Price per Square Foot: $363

In this transaction, the buyer was Jonathan Feistmann, MD. The seller of the property was Michael Troisi. Acting as the buyer's representative was Elliot Dennis from Wexler Healthcare Properties, The Corcoran Group. On the other side, representing the seller were Craig Waggner, John Ciraulo, and Mike Kavanagh from Cushman & Wakefield.

Players

Jonathan Feistmann, MD

Buyer

$3.9M

vol

2 deals

Buyer

Michael Troisi

Seller

$3.9M

vol

2 deals

Seller

Market CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.13%

Cash-on-Cash

-2.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93