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840 Park Avenue

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

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

840 Park Avenue

$9,115,000

$2,278/SF

Building Size

4,000 SF

Asset Type

Co-Op

Closing

Oct 9, 2024

AI

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

Broker

$262.5M

vol

38 deals

Broker

New York Co-Op Market Snapshot

Boundary boundary · Co-Op · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.74%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93