Updated Oct 28, 2024
Elad Group Acquires Lenox Hill Multifamily & Development Site For $61M
204 East 75th Street, New York City, New York 10021, United States
$61,000,000
$1,279/SF
Building Size
47,680 SF
Asset Type
Development Site
Closing
May 15, 2022
About this deal
AI
The multifamily and development site located at 204 East 75th Street, 1297 3rd Avenue, and 1299 3rd Avenue in Lenox Hill has been sold. The property was sold by Premier Equities to Elad Group for a total price of $61,000,000. The building has a building square footage (BSF) of 47,680, which translates to a price per building square footage (PPBSF) of $1,279.
Summary of transaction details:
- Property Type: Multifamily & Development Site
- Transaction Amount: $61,000,000
- Address: 204 East 75th Street, 1297 3rd Avenue & 1299 3rd Avenue
- Market: Lenox Hill
- Buyer: Elad Group
- Seller: Premier Equities
- BSF: 47,680
- PPBSF: $1,279
The transaction took place on 05/16/2022. Uzi Ben Abraham & Yaron Jacobi were the representatives involved in the deal, representing Elad Group and Premier Equities respectively.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93