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Tarek Alam & Thomas V BiFalco Acquire Mixed-Use Property In Lenox Hill For $5.25M

Property Image
SOLD
$5,250,000
Eric Lupo
TA
CW

New York

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Mixed-use11,105 SF
Sold 07/28/2020
the dealplayerscompscontact
Property Image
SOLD

Tarek Alam & Thomas V BiFalco Acquire Mixed-Use Property In Lenox Hill For $5.25M

319 E 75th St, New York, NY 10021, USA

See Similar Deals
Mixed-use11,105 SF
Sold 07/28/2020
Eric Lupo
TA
CW
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$472
Total Square Footage:11,105 SF
Transaction Type:Sale

The mixed-use property located at 319 East 75th Street in Lenox Hill has been sold in a closed transaction. The property is a six-story elevator building with 20 apartments and 2 retail stores. Spanning a total of 11,105 square feet, the property offers a diverse range of living and commercial spaces. The sale price for this asset was $5,250,000, resulting in a price per square foot of $472.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $5,250,000
  • Market: Lenox Hill
  • Buyer: Tarek Alam & Thomas V BiFalco
  • Seller: Estate of Carl Wallman
  • Broker: Eric Lupo – Friedman Roth Real Estate Services

Tarek Alam and Thomas V BiFalco were the buyers of this property, while the seller was the Estate of Carl Wallman. Representing the deal was Eric Lupo from Friedman Roth Real Estate Services. The successful sale of this mixed-use building highlights the demand for such properties in the Lenox Hill market, reflecting strong investment potential.

Players

Eric Lupo
Eric Lupo
6 deals$40.1M volume
BROKER
TA
Tarek Alam
4 deals$24M volume
BUYER
CW
Carl Wallman
2 deals$9.9M volume
SELLER

Details

SOLD
IMAGE: IMAGE: @EricLupoRealEstate DATE: 07/28/2020 ADDRESS: 319 East 75th Street MARKET: Lenox Hill ASSET TYPE: Mixed-use BUYER: Tarek Alam & Thomas V BiFalco SELLER: Estate of Carl Wallman BROKERS: Eric Lupo – @FriedmanRoth Reatly Services SALE PRICE: $5,250,000 SF: 11,105 PPSF: $472 NOTE: Six story elevator with 20 apartments and 2 retail stores.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$280,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14