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
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