Buddhist Compassion Relief Tzu Chi Foundation Acquires Mixed Use Property In Lenox Hill, Manhattan For $8.8M
229 E 60th St, New York, NY 10022, USA
$8,800,000
$1,571/SF
Building Size
5,600 SF
Asset Type
Mixed-use
Closing
Nov 28, 2020
About this deal
AI
The Galleum, located at 229 East 60th Street in the Lenox Hill neighborhood of Manhattan, has been sold for a total price of $8,800,000. This mixed-use property spans 5,600 square feet, resulting in a price per square foot of $1,571.
Summary of transaction details:
- Property Type: Mixed Use
- Transaction Amount: $8,800,000
- Address: 229 East 60th Street, New York, NY 10022
- Market: Lenox Hill
Prince John Landrum Bryant, the seller of The Galleum, has successfully closed this deal with the buyer, Buddhist Compassion Relief Tzu Chi Foundation. The transaction was facilitated by the brokerage firm, The Besen Group, with Greg Corbin representing the seller's side.
On the Map
$8,800,000
$1,571/SF
Mixed-use
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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
1.80%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93