John Murray Acquires Commercial Property On Lexington Avenue For $89.8M
SOLD
New York
See Similar DealsCommercial179,168 SF
Sold 04/26/2022
SOLD
John Murray Acquires Commercial Property On Lexington Avenue For $89.8M
303 Lexington Avenue, New York City, New York 10016, United States
See Similar DealsCommercial179,168 SF
Sold 04/26/2022
Summary
NEW YORK
Asset Type:Commercial
Price Per Square Foot:$501
Total Square Footage:179,168 SF
Transaction Type:Sale
The commercial property located at 303 Lexington Avenue in Murray Hill, Manhattan was recently sold in a closed transaction. The property has an address of 303 Lexington Avenue and is situated in the Murray Hill market. It falls under the commercial asset type and is zoned as R10, R8B. The sale took place on April 26, 2022.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $89,792,308
- Square Footage: 179,168 SF
- Price Per Square Foot: $501
- Market: Murray Hill, Manhattan
- Buyer: John Murray
- Seller: Thomas Felderman
The property has a floor area ratio (FAR) of 12.97 and falls under tax class 4. The lot size is 13,814 square feet, with dimensions of 98.63 ft x 140 ft. The property previously underwent an alteration permit on March 11, 2020, marked as Alteration 2.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,788,923.10
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$319,013.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$425,661.35
Annual Debt Service$5,107,936.20
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