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34 East 61st Street, New Yo...

Eric Finkelstein Purchases Commercial Property On East 61st Street For $16.5M
SOLDCommercial

Eric Finkelstein Purchases Commercial Property On East 61st Street For $16.5M

34 East 61st Street, New York City, New York 10065, United States

$16,500,000

$1,689/SF

Building Size

9,765 SF

Asset Type

Commercial

Closing

May 17, 2022

AI

The commercial property located at 34 East 61st Street in the Lenox Hill neighborhood of Manhattan has been sold for $16,500,000. The building has a total area of 21,090 square feet with a price per square foot of $782. The property spans across 9,765 square feet and has a price per square foot of $1,689. The lot size is 2,109 square feet, with dimensions of 21 ft x 100.42 ft.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $16,500,000
  • Market: Lenox Hill, Manhattan
  • Address: 34 East 61st Street
  • Buyer: Eric Finkelstein
  • Seller: Joan L. Greenberg
  • Building Square Footage: 21,090
  • Price per Building Square Foot: $782
  • Property Square Footage: 9,765
  • Price per Property Square Foot: $1,689
  • Far: 4.63
  • Tax Class: 4
  • Last Sale Price: $10,000,000 (09/29/2010)
  • Permits: Alteration 3 (03/20/2017)
  • Lot Dimension: 21 ft x 100.42 ft

The buyer in this transaction is Eric Finkelstein, while the seller is Joan L. Greenberg. The property was last sold on September 29, 2010, for a price of $10,000,000. It has a Far of 4.63 and falls under tax class 4. The property also received an alteration permit on March 20, 2017.

Players

Joan Greenberg

Seller

$89.4M

vol

4 deals

Seller

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

0.96%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93