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5 West 65th Street, New Yor...

Clipper Realty Acquires Apartment In Manhattan From Touro College For $79M
SOLDDevelopment Site

Clipper Realty Acquires Apartment In Manhattan From Touro College For $79M

5 West 65th Street, New York, NY 10023, USA

$79,000,000

$960/SF

Building Size

82,230 SF

Asset Type

Development Site

Closing

Oct 16, 2017

AI

Touro College has sold an apartment building located at 10-32 W 65th Street in New York City's Manhattan market. The property, which is an apartment, was sold for a price of $79,000,000. The building has a total square footage of 82,230 and a price per square foot of $960.

Summary of transaction details

  • Property Type: Apartment
  • Transaction Amount: $79,000,000
  • Address: 10-32 W 65th Street, New York
  • Market: Manhattan

The buyer of the property is Clipper Realty, while the seller is Touro College. The buyer was represented in the deal by Aaron Jungreis of Rosewood Realty Group and the seller was represented by John Ciraulo, Craig Waggner, Paul Smadbeck, and Robert Stufano of CushWake.

Players

Aaron Jungreis

Rosewood Realty Group

Broker

$4.4B

vol

214 deals

Broker
Clipper Equity
Clipper EquityBuyer

New York Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.20%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93