Jlm 1010 LLC Acquires Park Avenue Condo From Extell Development For $12.4M
1010 Park Avenue, Park Avenue, Manhattan, New York, NY, USA
$12,400,000
$3,195/SF
Building Size
3,881 SF
Asset Type
—
Closing
Apr 5, 2021
About this deal
AI
A Condo located at 1010 Park Avenue in the Upper East Side of New York City has been sold in a recent transaction. The property was purchased by Jlm 1010 LLC from Extell Development for a total sale price of $12,400,000. The condo spans a total area of 3,881 square feet, resulting in a price per square foot of $3,195. The property is zoned as R10, R8B, PI, offering potential for various uses.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $12,400,000
- SF: 3,881
- PPSF: $3,195
- Address: 1010 Park Avenue
- Market: Upper East Side
Jlm 1010 LLC acted as the buyer in this transaction, while Extell Development served as the seller. The property is situated on a lot of 13,199 square feet and has a FAR (Floor Area Ratio) of 2.13. Additionally, an alteration permit of type 2 was issued for the property on July 13, 2020.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.28%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93