Steven Matz Acquires $18.3M Resi Condo At 520 Park Avenue On UES
520 Park Avenue
$18,300,000
$457/SF
Building Size
40,000 SF
Asset Type
—
Closing
Oct 6, 2020
About this deal
AI
The residential condominium located at 520 Park Avenue in the Upper East Side has been sold in a closed transaction. The property, developed by Zeckendorf Development, was recently purchased for a price of $18,300,000. Spanning approximately 4,000 square feet, the condo offers a price per square foot of $4,575.
Summary of transaction details:
- Property Type: Residential Condominium
- Transaction Amount: $18,300,000
- Address: 520 Park Avenue, Upper East Side
The buyer of the property is Steven Matz. Zeckendorf Development, known for their expertise in high-end real estate projects, served as the developer of this prestigious residential condominium. The transaction was facilitated by the brokerage firm Corcoran Sunshine.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $457 per square foot on a published $18.3M for 40,000 square feet (2020).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93