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262 5th Avenue

Eric Goodman Of Goodman Capital Acquires $75M Stake In Five Points Development's Condo Tower
SOLDCondo

Eric Goodman Of Goodman Capital Acquires $75M Stake In Five Points Development's Condo Tower

262 5th Avenue

$75,000,000

Building Size

Asset Type

Condo

Closing

Dec 2, 2025

AI

The transaction involves a condo asset located at 262 5th Avenue in the Nomad market. The sale price for this property was $75,000,000. This acquisition is part of a construction loan for a 56-story condo tower developed by Five Points Development Group.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $75,000,000
  • Buyer: Eric Goodman - Goodman Capital
  • Seller: Boris Kuzinez - Five Points Development
  • Date of Transaction: 12/02/2025

Goodman Capital has joined the financing efforts for this development project two years after Five Points Development Group secured additional funding from Madison Realty Capital and Cottonwood Group. Eric Goodman represents Goodman Capital, while Boris Kuzinez represents Five Points Development in this transaction.

Players

Goodman Capital
Goodman CapitalBuyer

New York Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.21%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93