John Rapp Acquires Development Site From David Moinian In New York For $18M
SOLD
$18,000,000
New York
See Similar DealsDevelopment Site
Sold 02/01/2015
SOLD
John Rapp Acquires Development Site From David Moinian In New York For $18M
1055 1057 2nd Ave
See Similar DealsDevelopment Site
Sold 02/01/2015
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Sale
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:
- Property Type: Development Site
- Transaction Amount: $18,000,000.00
- Address: 1055 1057 2nd Ave
- Market: New York
- Buyer: John Rapp
- Seller: David Moinian
- Broker: Robert Khodadadian - Skyline Properties
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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