Investment Executive Michael Olshan Acquires Co-Op At 740 Park Avenue, Manhattan For $17M
740 Park Avenue
$17,000,000
Building Size
—
Asset Type
Co-Op
Closing
Oct 23, 2023
About this deal
AI
A duplex in the prestigious 740 Park Avenue building, located in Lenox Hill, Manhattan, has been sold for $17 million. The property is a Co-Op and consists of a duplex unit spanning across No. 10-11C. The transaction took place on October 23, 2023.
Summary of transaction details
- Property Type: Co-Op
- Transaction Amount: $17,000,000
- Market: Lenox Hill, Manhattan
- Address: 740 Park Avenue, No. 10-11C
The buyers of the duplex unit are Michael Olshan, an investment executive, and his wife, Claire Olshan.
Note: The property was previously owned by Hamburg and Miranda Tang.
Players
New York Co-Op Market Snapshot
Boundary boundary · Co-Op · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93