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295 Lafayette Street, New Y...

Updated Dec 19, 2023

Marc S Brodsky Acquires Condo In NoLIta, Manhattan For $22M
SOLD

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

Marc S. Brodsky

Buyer

$31.8M

vol

2 deals

Buyer

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Deal FAQ

About $111 per square foot on a published $22M for 197,237 square feet (2022).

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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

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