Eric Brown Acquires Development Site On Upper East Side For $7.25M
SOLD
$7,250,000
New York
See Similar DealsDevelopment Site20,432 SF
Sold 11/17/2020
SOLD
Eric Brown Acquires Development Site On Upper East Side For $7.25M
433 E 76th St, New York, NY 10021, USA
See Similar DealsDevelopment Site20,432 SF
Sold 11/17/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$354
Total Square Footage:20,432 SF
Transaction Type:Sale
A development site located at 433 East 76th Street and 434 East 77th Street in the Upper East Side neighborhood has been sold for a total price of $7,250,000. The property, with a total square footage of 20,432, is zoned as R8B. The transaction took place on November 17, 2020.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $7,250,000
- Square Footage: 20,432
- Address: 433 East 76th Street, 434 East 77th Street
- Market: Upper East Side
Eric Brown has acquired the property from Michael Zacharias. The deal was facilitated by brokers Scott Heller, Louis Moskowitz, and Stephen Weber.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,757.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,368.70
Annual Debt Service$412,424.39
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