Marc S Brodsky Acquires Condo In NoLIta, Manhattan For $22M
295 Lafayette Street, New York City, New York 10012, United States
$22,000,000
$111/SF
Building Size
197,237 SF
Asset Type
—
Closing
May 4, 2022
About this deal
AI
The property involved in the transaction is a condo located at 295 Lafayette Street in the NoLIta neighborhood of Manhattan. The property has a zoning classification of C6-3 and covers a total area of 197,237 square feet. The building's gross square footage is 175,945, resulting in a price per buildable square foot of $125. The sale price for the property was $22,000,000, with a price per square foot of $111. The previous sale of the property occurred on April 2, 2019, for a price of $18,000,000.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $22,000,000
- Address: 295 Lafayette Street, NoLIta, Manhattan
- Zoning: C6-3
- Gross Square Footage: 175,945
- Price per Buildable Square Foot: $125
- Total Square Footage: 197,237
- Price per Square Foot: $111
- Last Sale Price: $18,000,000 (4/2/2019)
Marc S Brodsky was the buyer in this transaction, and Brian Caughlin was the seller. The property has a floor area ratio (FAR) of 8.43 and belongs to tax class 2. The lot size of the property is 23,397 square feet.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93