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Allegretti & Associates Represents Buyer In $35M Upper East Side Co-op Purchase

Property Image
SOLD
$35,000,000

New York

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6,450 SF
Sold 09/23/2021
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Property Image
SOLD

Allegretti & Associates Represents Buyer In $35M Upper East Side Co-op Purchase

990 5th Avenue, New York City, New York 10035, United States

See Similar Deals
6,450 SF
Sold 09/23/2021
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Summary

NEW YORK
Price Per Square Foot:$5,426
Total Square Footage:6,450 SF
Transaction Type:Sale

The co-op located at 990 Fifth Avenue in the Upper East Side was recently sold for a price of $35,000,000. The property spans a total area of 6,450 square feet, resulting in a price per square foot of $5,426. With a lot size of 2,990, the dimensions of the lot measure 27.17 feet in width and 110 feet in length. This transaction took place on September 23, 2021.

Summary of transaction details

  • Property Type: Co-op
  • Transaction Amount: $35,000,000
  • Market: Upper East Side
  • Zoning: R10, PI
  • Seller: Nasser Family
  • Buyer's Representative: Jill Allegretti - Allegretti & Associates
  • Seller's Representatives: John Burger & Nancy Candib
  • Square Footage: 6,450
  • Price per Square Foot: $5,426
  • Lot Size: 2,990
  • Permits: Alteration 3 (01/14/2015)
  • Lot Dimension: 27.17 ft x 110 ft

Jill Allegretti from Allegretti & Associates represented the buyer, while John Burger and Nancy Candib served as the seller's representatives in this transaction.

Players

John Burger
8 deals$256.7M volume(212) 906-9274
BROKER

Nancy Candib
Brown Harris Stevens
1 deal$35M volume
BROKER

Jill Allegretti
1 deal$35M volume
BROKER

Details

SOLD
IMAGE: Jill Allegretti, John Burger & Nancy Candib DATE: 09/23/2021 ADDRESS: 990 Fifth Avenue MARKET: Upper East Side ASSET TYPE: Co-op ~ ZONING: R10, PI SELLER: Nasser Family BUYER'S REP: Jill Allegretti - Allegretti & Associates SELLER'S REP: John Burger & Nancy Candib SALE PRICE: $35,000,000 SF: 6,450 ~ PPSF: $5,426 FAR: 11.75 TAX CLASS: 2C LOT SIZE: 2,990 PERMITS: Alteration 3 (01/14/2015) LOT DIMENSION: 27.17 ft x 110 ft

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
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Annual Debt Service$1,991,014.27