Tony Park Acquires Mixed-Use Property In Midtown For $4.69M
SOLD
$4,690,000
New York
See Similar DealsMixed-use4,157 SF
Sold 09/22/2021
SOLD
Tony Park Acquires Mixed-Use Property In Midtown For $4.69M
243 East 58th Street, Manhattan, New York, NY, USA
See Similar DealsMixed-use4,157 SF
Sold 09/22/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,128
Total Square Footage:4,157 SF
Transaction Type:Sale
The mixed-use property located at 243 East 58th Street in Midtown has been sold in a recent transaction. The property is zoned as R8B, C2-8, TA and offers a variety of potential uses.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,690,000
- Address: 243 East 58th Street
- Market: Midtown
- BSF (Building Square Footage): 20,080
- PPBSF (Price Per Building Square Foot): $233
- SF (Lot Square Footage): 4,157
- PPSF (Price Per Square Foot): $1,128
The buyer of the property is Tony Park, while the sellers are Lidia Bastianich and Tanya Bastianich Manuali.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$250,133.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,662.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,232.99
Annual Debt Service$266,795.91
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