Lori Buchbinder's Buchbinder And Warren Realty Group Acquires 245 East 55th Street Mixed-Use Property In Manhattan For $19.5M
245 E 55th St, New York, NY 10022, USA & 245 E 55th St, New York, NY 10022, USA
Building Size
94,226 SF
Asset Type
Mixed-use
Closing
Apr 24, 2018
AI
The mixed-use property located at 245 East 55th Street in Manhattan has been sold for a total price of $19,500,000. The property spans a total of 8,566 square feet, with 34,140 square feet of buildable space at a price per buildable square foot of $571. The property consists of 13 units, including 12 apartments and a commercial space.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $19,500,000
- Square Footage: 8,566 total, 34,140 buildable
- Price per Buildable Square Foot: $571
- Units: 12 apartments and 1 commercial space
The seller of the property is Aintree Realty, while the buyer is Buchbinder and Warren Realty Group represented by Lori Buchbinder. The transaction was completed on April 25, 2018. It is worth mentioning that Lori Buchbinder also owns additional properties.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93