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1055 1057 2nd Ave

John Rapp Acquires Development Site From David Moinian In New York For $18M
SOLDDevelopment Site

John Rapp Acquires Development Site From David Moinian In New York For $18M

1055 1057 2nd Ave

$18,000,000

Building Size

Asset Type

Development Site

Closing

Feb 1, 2015

AI

The property involved in the transaction is a development site located at 1055 1057 2nd Ave in the New York market. The site was sold for a total amount of $18,000,000.00.

Summary of transaction details:

The individuals involved in this transaction include the buyer, John Rapp, and the seller, David Moinian. The deal was facilitated by Robert Khodadadian, who represented Skyline Properties in this real estate transaction.

Players

Robert Khodadadian

Skyline Properties

Broker

$1.1B

vol

30 deals

Broker

John Rapp

Buyer

$48.9M

vol

4 deals

Buyer

David Moinian

Seller

$135M

vol

1 deal

Seller

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

0.88%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93