David Michael Kaiser Acquires Condo In TriBeCa, Manhattan For $12.85M
56 Leonard St, 56 Leonard St, New York City, New York 10013, United States
$12,850,000
$3,811/SF
Building Size
3,371 SF
Asset Type
—
Closing
Jan 13, 2022
About this deal
AI
The property involved in this closed transaction is a condo located at 56 Leonard Street in TriBeCa, Manhattan. It is zoned as C6-4 and has a lot size of 12,518 square feet, with dimensions of 75.17 ft x 98.67 ft. The total square footage of the condo is 3,371, and the price for the transaction was $12,850,000. The price per square foot is $3,811. The previous sale of the property took place on April 24, 2015, for a price of $12,109,500.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $12,850,000
- Zoning: C6-4
- Square Footage: 3,371
The buyer in this transaction is David Michael Kaiser, and the seller is Rishi Shah. The Floor-Area Ratio (FAR) of the property is 29.28, and it is classified under Tax Class 2.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $3.8K per square foot on a published $12.9M for 3,371 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.23%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93