Eric Brown Acquires Development Site On Upper East Side For $7.25M
433 E 76th St, New York, NY 10021, USA
$7,250,000
$354/SF
Building Size
20,432 SF
Asset Type
Development Site
Closing
Nov 16, 2020
AI
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.
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
2.19%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93