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
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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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