Jamie Hubbard & Douglas Johnson Purchase Kips Bay Condo From Forkosh Development For $7,655,625
181 East 28th Street
$7,655,625
$2,458/SF
Building Size
3,114 SF
Asset Type
Condo
Closing
Mar 26, 2024
About this deal
AI
The property at 181 East 28th Street in Kips Bay, Manhattan, was recently sold. The condo spans 3,114 square feet and was sold for $7,655,625, equating to a price per square foot of $2,458. The transaction took place on 03/26/2024, with the buyers being Jamie Hubbard & Douglas Johnson and the seller being Forkosh Development.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $7,655,625
- Buyer: Jamie Hubbard & Douglas Johnson
- Seller: Forkosh Development
- Buyer's Representative: Alexander Zakharin, Yana Aleksyeyenko & Sergii Vasylynchuk - Nest Seekers International
- Seller's Representative: Ryan Serhant, Tamara Kaplan & Serri Knight - Serhant
The deal was facilitated by Alexander Zakharin, Yana Aleksyeyenko, Sergii Vasylynchuk from Nest Seekers International representing the buyers, while Ryan Serhant, Tamara Kaplan, and Serri Knight from Serhant represented the seller. The negotiation process aimed at securing the best price and terms for both parties, ensuring a successful transaction for the legendary penthouse.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.07%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93