Richard Cohen Acquires Mixed-Use Property At 1199 1st Avenue In Lenox Hill For $93.9M
1199 1st Avenue
$93,900,000
$446/SF
Building Size
210,305 SF
Asset Type
Mixed-use
Closing
May 14, 2025
AI
A mixed-use property at 1199 1st Avenue in Lenox Hill has been sold for $93,900,000. The asset spans a total of 210,305 square feet, with a price per square foot set at $446 in this transaction.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $93,900,000
- Square Footage: 210,305
- Sale Price per Square Foot: $446
- Buyer: Richard Cohen
- Seller: Ofer Yardeni
- Sale Date: 05/14/2025
- Market: Lenox Hill, Manhattan
Richard Cohen acquired the property from Ofer Yardeni, marking a significant transaction in the Lenox Hill market. The engagement reflects the continued interest in mixed-use developments in this area of Manhattan.
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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93