Lori Buchbinder And Brandon Charnas Acquire Mixed-Use Future Development Site On Madison Avenue In Manhattan For $69.95M
1045 Madison Ave, New York, NY 10075, USA
Building Size
—
Asset Type
Mixed-use
Closing
Nov 28, 2020
About this deal
AI
An assemblage of three properties located at 1039, 1041, and 1045 Madison Avenue in New York City has recently been sold for a total price of $69,950,000. The properties are situated in the market of Manhattan, specifically at the cross streets of 79th & Madison Ave. This mixed-use future development site presents an exciting opportunity for potential development.
Summary of transaction details
- Property Type: Mixed Use – Future Development site
- Transaction Amount: $69,950,000
- Assets: 1039, 1041, and 1045 Madison Avenue
- City: New York
- Market: Manhattan
- Cross Streets: 79th & Madison Ave
Lori Buchbinder, Brandon Charnas, Adam Henick, and Miki Naftali were involved in the transaction. Buchbinder, Charnas, and Henick represented the buyer, while Naftali, a representative from Miki Naftali's agency, represented the seller. These individuals play a key role in facilitating the deal, bringing their expertise and insights to the table.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93