Park 515 LLC Acquires 515 Park Avenue Condo For $12M With Buyer's Rep Adam Modlin And Seller's Rep Marlon Schwarcz
SOLD
$12,000,000
New York
See Similar DealsCondo5,500 SF
Sold 06/30/2023
SOLD
Park 515 LLC Acquires 515 Park Avenue Condo For $12M With Buyer's Rep Adam Modlin And Seller's Rep Marlon Schwarcz
515 Park Avenue
See Similar DealsCondo5,500 SF
Sold 06/30/2023
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$2,181
Total Square Footage:5,500 SF
Transaction Type:Sale
515 Park Avenue AB, located in Lenox Hill, Manhattan, has been sold in a recent transaction. The property is a condo with a size of 5,500 square feet. The sale price was $12,000,000, resulting in a price per square foot of $2,182. The buyer of the property is Park 515 LLC, while LexPark Holdings LLC served as the seller.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $12,000,000
- Address: 515 Park Avenue AB
- Market: Lenox Hill, Manhattan
The buyer was represented by Adam Modlin from Modlin Group, and the seller was represented by Marlon Schwarcz from Nest Seekers International. Both brokers played a crucial role in facilitating the transaction between the buyer and seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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