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
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