Extell Development Company Buys 151-155 East 85th Street From Vornado Realty Trust For $64M
SOLD
$64,000,000
+ 1
New York
See Similar DealsMixed-use156,425 SF
Sold
SOLD
Extell Development Company Buys 151-155 East 85th Street From Vornado Realty Trust For $64M
151 155 East 85th Street
See Similar DealsMixed-use156,425 SF
Sold
+ 1
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$409
Total Square Footage:156,425 SF
Transaction Type:Sale
The asset is a mixed-use property located at 151-155 East 85th Street in the Upper East Side. The sale price was $64,000,000, comprising 39 units and 156,425 square feet of space within the Upper East Side market.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $64,000,000
- Address: 151-155 East 85th Street
- Market: Upper East Side
- Units: 39
- Square Footage: 156,425
- Buyer: Extell Development Company
- Seller: Vornado Realty Trust
- Brokers: Andrew Scandalios, David Giancola, Drew Isaacson & Jennifer Zelko - JLL
The deal was guided by a JLL brokerage team, coordinating the transaction on behalf of the parties involved in this Upper East Side asset.
Players
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SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,413,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$227,378.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$303,392.65
Annual Debt Service$3,640,711.82
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