Updated Oct 28, 2024
EJS Group Secures $28M Loan For Development Site At 1303 Third Avenue In Lenox Hill
1303 3rd Avenue, New York City, New York 10021, United States
$28,000,000
$226/SF
Building Size
123,495 SF
Asset Type
Development Site
Closing
Jul 18, 2022
About this deal
AI
A development site in Lenox Hill has been sold for $28,000,000. The property, located at 1303 Third Avenue, spans a total of 123,495 square feet and consists of 38 units. The transaction took place on July 19, 2022. Ted Segal shared an image of the property on Instagram.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $28,000,000
- Square Footage: 123,495
- Units: 38
- Address: 1303 Third Avenue
- Market: Lenox Hill
The loan for this transaction was provided by Signature Bank. The landlord of the property is EJS Group.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93