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Jeff Krassnoff Of Rialto Capital Acquires Mixed-Use Property In Carnegie Hill For $19.2M
SOLD
$19,200,000
New York
See Similar DealsMixed-use15,596 SF
Sold 01/06/2025
SOLD
Jeff Krassnoff Of Rialto Capital Acquires Mixed-Use Property In Carnegie Hill For $19.2M
1442 Lexington Avenue
See Similar DealsMixed-use15,596 SF
Sold 01/06/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,231
Total Square Footage:15,596 SF
Transaction Type:Sale
The mixed-use property located at 1442 Lexington Avenue in Carnegie Hill, Manhattan, has a sale price of $19,200,000, translating to $1,231 per square foot for its total area of 15,596 square feet.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $19,200,000
- Buyer: Jeff Krassnoff
- Buyer's Company: Rialto Capital
- Seller: Ian Lagowitz
- Date of Sale: 01/06/2025
- Market: Carnegie Hill, Manhattan
- Square Footage: 15,596
- Price Per Square Foot: $1,231
Jeff Krassnoff, representing Rialto Capital, acquired the property through a court-ordered foreclosure process. Ian Lagowitz was the seller in this transaction. The acquisition reflects Rialto Capital's engagement in the foreclosure market, underscoring strategic investment practices.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,024,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,213.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,017.80
Annual Debt Service$1,092,213.54
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