Cofinance Group Acquires Mixed-Use Property At 219-221 East 59th Street For $10.85M
219 E 59th St, New York, NY 10022, USA
$10,850,000
$1,027/SF
Building Size
10,560 SF
Asset Type
Mixed-use
Closing
Mar 10, 2020
AI
The mixed-use property located at 219-221 East 59th Street in Midtown East has been sold for a total price of $10,850,000. The property consists of 4 residential units and 2 retail units, with a total square footage of 10,560. The price per square foot comes out to be $1,027, and the price per unit is $1,808,333.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $10,850,000
- Address: 219-221 East 59th Street
- Market: Midtown East
- Units: 4 residential, 2 retail
- Price per square foot: $1,027
- Price per unit: $1,808,333
The seller of the property is Ken Klaffky, while the buyer is represented by Cofinance Group, with Mark Winter-Gitelson, Alex de Montebello, and others involved in the transaction.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.46%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93