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229 E 60th St, New York, NY...

Buddhist Compassion Relief Tzu Chi Foundation Acquires Mixed Use Property In Lenox Hill, Manhattan For $8.8M
SOLDMixed-use

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

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.

Players

Aaron Kline

Rosewood Realty Group

Broker

$79.3M

vol

6 deals

Broker

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