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181 East 28th Street

Updated Dec 4, 2024

Jamie Hubbard & Douglas Johnson Purchase Kips Bay Condo From Forkosh Development For $7,655,625
SOLDCondo

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:

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

Ryan Serhant

Serhant

Broker

$1.2B

vol

45 deals

Broker

New York Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Deal FAQ

About $2.5K per square foot on a published $7.7M for 3,114 square feet (2024).

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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

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