Motion New York Acquires Resi Condo On Park Avenue In Lenox Hill For $2.7M
610 Park Avenue, Manhattan, New York, NY, USA
$2,700,000
$1,603/SF
Building Size
1,684 SF
Asset Type
—
Closing
Oct 14, 2021
About this deal
AI
The Tugendhaft Family has sold the residential condominium located at 610 Park Avenue in Lenox Hill. The property features a total area of 1,684 square feet and was sold for $2,700,000. With an asking price of $3,295,000, the final sale price represents an 18% discount. The price per square foot for this transaction was $1,603.
Summary of transaction details
- Property Type: Residential Condo
- Transaction Amount: $2,700,000
- Address: 610 Park Avenue
- Market: Lenox Hill
Benjamin Bassal and Ariel Moinian from Motion New York represented the buyer in this deal. They were instrumental in negotiating an 18% discount on the purchase price and ensuring a smooth and timely closing. For any further buying and selling opportunities, you can reach out to Benjamin Bassal at [email protected].
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $1.6K per square foot on a published $2.7M for 1,684 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93