Kevin Lalezarian Acquires Commercial Property In Murray Hill, Manhattan For $7.75M
569 3rd Avenue, New York City, New York 10016, United States
$7,750,000
$1,192/SF
Building Size
6,499 SF
Asset Type
Commercial
Closing
May 30, 2022
AI
The commercial property located at 569 3rd Avenue in Murray Hill, Manhattan has been sold in a transaction that took place on May 31, 2022. The property is zoned as C1-9 and has a tax class of 2B. The lot size measures 1,906 square feet, with dimensions of 22.92 feet by 126 feet. The property previously underwent an alteration permit on June 30, 2011.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $7,750,000
- Building Square Footage: 19,060
- Price per Building Square Foot: $406
- Lot Square Footage: 6,499
- Price per Square Foot: $1,192
- FAR: 3.41
- Buyer: Kevin Lalezarian
- Buyer's Representative: Not provided
- Seller: Lloyd Goldman
- Seller's Representative: Not provided
The deal involved Kevin Lalezarian as the buyer and Lloyd Goldman as the seller. No additional information is available regarding the representatives involved in the transaction.
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
2.05%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93