Rosewood Realty Group Represents Sale Of Development Site On Upper East Side For $25M
SOLD
$25,000,000
New York
See Similar DealsDevelopment Site14,000 SF
Sold 12/22/2021
SOLD
Rosewood Realty Group Represents Sale Of Development Site On Upper East Side For $25M
51-53 East 73rd Street, New York City, New York 10021, United States
See Similar DealsDevelopment Site14,000 SF
Sold 12/22/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1,785
Total Square Footage:14,000 SF
Transaction Type:Sale
A development site located at 51-53 East 73rd Street in the Upper East Side has been sold for a price of $25,000,000. The property spans 14,000 square feet, giving a price per buildable square foot (PPBSF) of $1,785. The sale took place on December 22, 2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $25,000,000
- Address: 51-53 East 73rd Street
- Market: Upper East Side
- Buildable Square Footage (BSF): 14,000
- Price per Buildable Square Foot (PPBSF): $1,785
The sale was facilitated by Greg Corbin and Shaun Rose of Rosewood Realty Group, who represented the parties involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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