Blue Castle Investments LLC Acquires $70.5M Condo In Midtown East
SOLD
$70,500,000
New York
See Similar DealsSold 05/05/2022
SOLD
Blue Castle Investments LLC Acquires $70.5M Condo In Midtown East
Midtown East, New York City, New York, United States
See Similar DealsSold 05/05/2022
Summary
NEW YORK
Transaction Type:Sale
The recent sale of a condo in Midtown East has caught the attention of real estate enthusiasts. The property, located in an undisclosed address, was sold on May 5, 2022. The asset, a spacious condo, was sold for an impressive price tag of $70,500,000.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $70,500,000
- Market: Midtown East
The deal involved two key parties. The buyer, known as Blue Castle Investments LLC, showed keen interest in acquiring the condo. On the other side, Blessings Investments Lp acted as the seller. The transaction, facilitated by their respective representatives, was successfully completed on the specified date.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,760,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$250,471.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$334,205.97
Annual Debt Service$4,010,471.61
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