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737 Park Avenue

Bob Knakal's 11th-Floor Condo At 737 Park Avenue In Lenox Hill, Manhattan Goes Into Contract For $13.45M
SOLDCondo

Bob Knakal's 11th-Floor Condo At 737 Park Avenue In Lenox Hill, Manhattan Goes Into Contract For $13.45M

737 Park Avenue

$13,450,000

$2,850/SF

Building Size

4,719 SF

Asset Type

Condo

Closing

Oct 17, 2023

AI

A condo located on the 11th floor of 737 Park Avenue in Lenox Hill, Manhattan, has recently gone into contract. The seller of the property is Bob Knakal, a well-known figure in the real estate industry. The asking price for this condominium has remained unchanged at $13.45 million. This transaction occurred just one month after a broker swap, showcasing swift activity in the market.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $13,450,000
  • Square Footage: 4,719
  • Price Per Square Foot (PPSF): $2,850
  • Address: 737 Park Avenue, Lenox Hill, Manhattan

In this deal, the primary brokers involved were Kayla Lee and Ryan Serhant from Serhant. They played a crucial role in facilitating the transaction and worked closely with both the buyer and the seller. It is worth mentioning that this condo attracted serious interest despite the unchanged asking price, demonstrating the desirability and potential value of this property.

Players

Ryan Serhant

Serhant

Broker

$955.1M

vol

43 deals

Broker

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

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93