City University Of New York Acquires Condo At 569 Lexington Avenue For $85.7M From Ross Walker
569 Lexington Avenue
$85,700,000
Building Size
—
Asset Type
Condo
Closing
Apr 21, 2025
About this deal
AI
The transaction involves a condo asset located at 569 Lexington Avenue in Midtown East, Manhattan. City University of New York has acquired the property for a sale price of $85,700,000. The purchase includes four timeshare condo units, which will be utilized to provide 578 dorm beds for students, enhancing CUNY's housing capacity.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $85,700,000
- Buyer: City University of New York
- Seller: Ross Walker - Hawkins Way Capital
- Address: 569 Lexington Avenue
- Market: Midtown East, Manhattan
The transaction illustrates the strategic acquisition by CUNY, represents a significant investment in student housing, and highlights the involvement of Ross Walker from Hawkins Way Capital in facilitating the sale. This deal was finalized on April 21, 2025.
On the Map
$85,700,000
Condo
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93