Tarek Alam & Thomas V BiFalco Acquire Mixed-Use Property In Lenox Hill For $5.25M
319 E 75th St, New York, NY 10021, USA
$5,250,000
$472/SF
Building Size
11,105 SF
Asset Type
Mixed-use
Closing
Jul 27, 2020
AI
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
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93