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Eric Wolff And Courtney Wolff Purchase Co-Op From Arthur Sulzberger Jr In Lincoln Square For $6.8M
SOLD
$6,800,000
New York
See Similar DealsCo-Op
Sold 10/23/2024
SOLD
Eric Wolff And Courtney Wolff Purchase Co-Op From Arthur Sulzberger Jr In Lincoln Square For $6.8M
171 West 71st Street
See Similar DealsCo-Op
Sold 10/23/2024
Summary
NEW YORK
Asset Type:Co-Op
Transaction Type:Sale
A duplex penthouse located at 171 West 71st Street in Lincoln Square was sold for $6,800,000. It is categorized as a co-op asset. The property was previously owned by Arthur Sulzberger Jr., who had acquired two units over a decade before this transaction.
Summary of transaction details:
- Property Type: Co-Op
- Transaction Amount: $6,800,000
- Buyer: Eric Wolff & Courtney Wolff
- Seller: Arthur Sulzberger Jr
- Broker: Pat Wheatley - Sotheby's International Realty
Pat Wheatley represented the seller, Arthur Sulzberger Jr., in this transaction. This sale reflects a return on investment for Sulzberger Jr., as he sold the property for a price comparable to his acquisition cost.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$362,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,158.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,235.47
Annual Debt Service$386,825.63
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