Skyline Developers Acquires Mixed-Use And Multifamily Property In Carnegie Hill For $16.6M
185 East 80th Street, New York City, New York 10028, United States
$16,666,667
$520/SF
Building Size
32,030 SF
Asset Type
Mixed-use
Closing
Oct 10, 2022
AI
The property involved in this closed transaction is a mixed-use and multifamily asset located at 185 East 80th Street, 1412 & 1416 3rd Avenue, and 1410 3rd Avenue in Carnegie Hill. The property spans a total square footage (SF) of 32,030 and has a price per square foot (PPSF) of $1,561. The buyer, Skyline Developers represented by Leonard Wilf and Orin Wilf, acquired the property from the seller, Maria Armendariz, for a sale price of $16,666,667. The building has a buildable square footage (BSF) of 100,000 with a price per buildable square foot (PPBSF) of $500.
Summary of transaction details:
- Property Type: Mixed-use & Multifamily
- Transaction Amount: $16,666,667
- Address: 185 East 80th Street, 1412 & 1416 3rd Avenue & 1410 3rd Avenue
- Market: Carnegie Hill
- Buyer: Skyline Developers - Leonard Wilf & Orin Wilf
- Seller: Maria Armendariz
- BSF: 100,000
- PPBSF: $500
- SF: 32,030
- PPSF: $1,561
The buyer, Skyline Developers, was represented by Leonard Wilf and Orin Wilf of their affiliated agency.
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
0.95%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93