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Greg Smith Acquires Co-Op At 840 Park Avenue From Valery Source For $9.115M

Property Image
SOLD
$9,115,000
Alexander Boriskin
Michael Lorber

New York

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Co-Op4,000 SF
Sold 10/09/2024
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Property Image
SOLD

Greg Smith Acquires Co-Op At 840 Park Avenue From Valery Source For $9.115M

840 Park Avenue

See Similar Deals
Co-Op4,000 SF
Sold 10/09/2024
Alexander Boriskin
Michael Lorber
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Co-Op
Price Per Square Foot:$2,278
Total Square Footage:4,000 SF
Transaction Type:Sale

The property asset involved in this transaction is a Co-Op located at 840 Park Avenue in the Lenox Hill market. The sale price was $9,115,000, and the property encompasses a total space of 4,000 square feet, resulting in a price per square foot of $2,278.

Summary of transaction details:

  • Property Type: Co-Op
  • Transaction Amount: $9,115,000
  • Address: 840 Park Avenue
  • Market: Lenox Hill
  • Square Footage: 4,000
  • Price per Square Foot: $2,278
  • Buyer: Greg Smith
  • Seller: Valery Source
  • Broker Representatives: Michael Lorber & Alexander Boriskin - Douglas Elliman

This transaction was facilitated by brokers Michael Lorber and Alexander Boriskin from Douglas Elliman, representing the buyer and seller in this real estate deal. Their involvement played a critical role in the successful completion of the transaction.

Players

Michael Lorber
Douglas Elliman
Michael Lorber
38 deals$262.5M volume
BROKER
Alexander Boriskin
Douglas Elliman
Alexander Boriskin
37 deals$242M volume
BROKER

Details

SOLD
IMAGE: Michael Lorber & Alexander Boriskin DATE: 10/09/2024 ADDRESS: 840 Park Avenue MARKET: Lenox Hill ASSET TYPE: Co-Op BUYER: Greg Smith SELLER: Valery Source BROKERS: Michael Lorber (@MichaelLorber) & Alexander Boriskin (@AlexanderBoriskin) - Douglas Elliman (@DouglasElliman) SALE PRICE: $9,115,000 SF: 4,000 ~ PPSF: $2,278

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$486,133.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$32,383.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,209.75
Annual Debt Service$518,517.00