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JP Real Estate Group Purchases Mixed-Use Building In Lenox Hill From Frederick J. Rudd For $23.6M
SOLD
$23,600,000
New York
See Similar DealsMixed-use
Sold
SOLD
JP Real Estate Group Purchases Mixed-Use Building In Lenox Hill From Frederick J. Rudd For $23.6M
1057 Lexington Avenue
See Similar DealsMixed-use
Sold
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
A five-story, mixed-use building located at 1057-1059 Lexington Avenue in Lenox Hill was sold for $23.6 million. The property comprises 15 residential units and 5,600 square feet of retail space that is leased to Orsay.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $23,600,000
- Buyer: JP Real Estate Group
- Seller: Frederick J. Rudd - Rudd Realty Management
- Address: 1057 Lexington Avenue & 1059 Lexington Avenue
- Market: Lenox Hill
This transaction was facilitated by Frederick J. Rudd, representing Rudd Realty Management as the seller's broker in the deal.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,258,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$83,845.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$111,876.04
Annual Debt Service$1,342,512.48
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