Naftali Group Acquires Mixed Use Property On Upper East Side For $72.6M
1481 2nd Avenue, Upper East Side, New York, NY, USA
$72,600,000
$2,060/SF
Building Size
35,235 SF
Asset Type
Mixed-use
Closing
Dec 6, 2021
About this deal
AI
The mixed-use property located at 1481-1489 Second Avenue in the Upper East Side was recently sold for a total of $72,600,000. The transaction took place on 12/06/2021, involving the buyer Naftali Group and the seller Sky Management Corp. The property, which is situated in a desirable market, features a combination of residential and commercial spaces.
Summary of Transaction Details:
- Property Type: Mixed Use
- Transaction Amount: $72,600,000
- Address: 1481-1489 Second Avenue
- Market: Upper East Side
Leading the deal on behalf of the buyer Naftali Group was their team, including Danielle Naftali, David Hochfelder, and Miki Naftali. Representing the seller, Sky Management Corp., were brokers Bob Knakal, John Hageman, Max Herzog, Scott Aiese, Jillian Mariutti, and Alex Staikos from JLL.
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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93