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Eric Goodman Of Goodman Capital Acquires $75M Stake In Five Points Development's Condo Tower
SOLD
$75,000,000
New York
See Similar DealsCondo
Sold 12/02/2025
SOLD
Eric Goodman Of Goodman Capital Acquires $75M Stake In Five Points Development's Condo Tower
262 5th Avenue
See Similar DealsCondo
Sold 12/02/2025
Summary
NEW YORK
Asset Type:Condo
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,000,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$266,459.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$355,538.26
Annual Debt Service$4,266,459.16
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