Lion Cub Development Acquires Mixed-Use Property In Lenox Hill For $4.4M
1471 1st Avenue, Manhattan, New York, NY 10075, USA
$4,400,000
$721/SF
Building Size
6,100 SF
Asset Type
Mixed-use
Closing
Oct 14, 2021
About this deal
AI
This mixed-use property located at 1471 1st Avenue in Lenox Hill has been sold for a price of $4,400,000. The transaction took place on October 14, 2021. The property, covering an area of 6,100 square feet, offers a mix of 6 apartments and 1 store. The sale price per square foot was $721.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,400,000
- Address: 1471 1st Avenue
- Market: Lenox Hill
The buyer of the property was Lion Cub Development, represented by Andrew Aryeh. The seller was Luellen Goldstein. The deal was facilitated by Zachary Ziskin, Adam Lobel, Justin Zeitchik, Kyle Katz, and Lucas Vitollo from Bestreich Realty Group.
It is worth noting that this fully free-market mixed-use building also has significant air rights for potential future development. For similar property sale inquiries, interested parties can contact [email protected].
Players
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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93