facebook

traded

+ Submit
Home

/

Deals

/

New York

/

All

/

Sale

/

Lenox Hill, New York City, ...

Adam Weitsman Acquires Lenox Hill Condo From John Paulson For $5M
SOLD

Adam Weitsman Acquires Lenox Hill Condo From John Paulson For $5M

Lenox Hill, New York City, New York, United States

$5,000,000

$769/SF

Building Size

6,500 SF

Asset Type

Closing

Mar 16, 2022

AI

Located in Lenox Hill, this condo was recently sold in a closed transaction. The property holds a sale price of $5,000,000, with a total square footage of 6,500. The price per square foot comes out to $769. The buyer in this transaction is Adam Weitsman, the owner of Upstate Shredding – Weitsman Recycling. The seller of this condo is John Paulson. The deal was facilitated by Rachel Glazer, a broker from Compass.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $5,000,000
  • Square Footage: 6,500
  • Price per Square Foot: $769
  • Buyer: Adam Weitsman - Upstate Shredding – Weitsman Recycling
  • Seller: John Paulson
  • Broker: Rachel Glazer - Compass

This transaction showcases the collaboration between Adam Weitsman, owner of Upstate Shredding – Weitsman Recycling, and John Paulson, the seller of the condo. Rachel Glazer from Compass served as the broker for this deal, ensuring a successful transaction. With a sale price of $5,000,000 and a spacious square footage of 6,500, this condo offers a desirable investment opportunity in Lenox Hill.

Players

Rachel Glazer

Compass

Broker

$30.2M

vol

5 deals

Broker

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93