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
$25,000,000
$1,785/SF
Building Size
14,000 SF
Asset Type
Development Site
Closing
Dec 21, 2021
AI
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.
Players
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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93