Updated Dec 21, 2023
Majid Kahen Acquires Commercial Property In Lenox Hill, Manhattan For $12.8M
1022 3rd Avenue, New York City, New York 10022, United States
$12,799,200
$1,617/SF
Building Size
7,915 SF
Asset Type
Commercial
Closing
Jul 11, 2022
About this deal
AI
The commercial property located at 1022 3 Avenue in Lenox Hill, Manhattan has been sold in a transaction that took place on July 12, 2022. The property is zoned as C1-9 and has a floor area ratio (FAR) of 2.91. With a tax class of 2, the property encompasses a lot size of 2,720 square feet and has dimensions of 32 feet by 85 feet. The transaction history of the property includes an alteration permit obtained on November 15, 2011.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $12,799,200
- Buyer: Majid Kahen
- Seller: Anthony Felzen
- Building Square Footage: 27,200
- Price per Buildable Square Foot: $470
- Lot Square Footage: 7,915
- Price per Square Foot: $1,617
Majid Kahen has acquired the property from Anthony Felzen in this transaction. Majid Kahen is represented by a broker named "Majid Kahen - Agency".
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.24%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93