Redeemer Presbyterian Church Acquires Development Site In Upper East Side For $29.5M
SOLD
$29,500,000
New York
See Similar DealsDevelopment Site213,420 SF
Sold
SOLD
Redeemer Presbyterian Church Acquires Development Site In Upper East Side For $29.5M
150 E 91st St, New York, NY 10128, USA
See Similar DealsDevelopment Site213,420 SF
Sold
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$138
Total Square Footage:213420 SF
Transaction Type:Sale
A development site located at 150 East 91st Street in the Upper East Side has been sold for a price of $29,500,000. The site spans over 21,342 square feet, with a price per square foot of $1,382. The building has a total square footage of 45,094, resulting in a price per buildable square foot of $654.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $29,500,000
- Address: 150 East 91st Street
- Market: Upper East Side
The buyer in this transaction was Redeemer Presbyterian Church, while the seller was GPG Properties, formerly known as Mautner Glick. The deal was facilitated by Hunter Moss and Brad Jones from Cushman & Wakefield @BuildingInvestmentSales.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,573,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$104,807.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$139,845.05
Annual Debt Service$1,678,140.60
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