Updated Jan 23, 2025
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
About this deal
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:
- 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.
On the Map
$18,000,000
Development Site
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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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93