David Rogers & Elizabeth Dexter Acquire Co-Op From William P. Lauder For $21.25M
778 Park Avenue In Manhattan & 778 Park Avenue
$21,250,000
Building Size
—
Asset Type
—
Closing
May 27, 2026
About this deal
AI
A co-op located at 778 Park Avenue in the Upper East Side market has been sold for $21.25 million. The property is part of a broader trend showing price weakness for luxury co-ops in Manhattan, especially as compared to newer condominiums. The sale reflects a $3.7 million loss from the price paid by the seller in 2023.
Summary of transaction details:
- Property Type: Co-Op
- Transaction Amount: $21,250,000
- Buyer: David Rogers & Elizabeth Dexter
- Seller: William P. Lauder
- Brokers: Cathy Franklin & Alexis Bodenheimer - The Corcoran Group
This transaction involved cosmetics billionaire William P. Lauder selling his co-op, highlighting the active participation of brokers Cathy Franklin and Alexis Bodenheimer from The Corcoran Group, representing the seller in this significant deal.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93