Icon Realty & Stellar Management Acquires 799 Lexington Ave Mixed-Use Property In Lenox Hill For $7.5M
799 Lexington Avenue, Manhattan, New York, NY, USA
$7,500,000
$1,315/SF
Building Size
5,700 SF
Asset Type
Mixed-use
Closing
Feb 11, 2019
About this deal
AI
The mixed-use property located at 799 Lexington Ave in the Lenox Hill market has a sale price of $7,500,000. The asset encompasses 5,700 square feet and has a price per square foot of $1,315. The property has not changed ownership in over 50 years, and the transaction was carried out off-market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $7,500,000
- Address: 799 Lexington Ave
- Market: Lenox Hill
- Square Footage: 5,700
- Price per Square Foot: $1,315
- Seller: Andy & Julie Dejunco
- Buyer: @IconRealty & Stellar Management
- Broker Representatives: Isaac Setton & Bunny Escava @kassin_sabbagh_realty
The deal involved representation by brokers Isaac Setton and Bunny Escava from Kassin Sabbagh Realty, facilitating the transaction on behalf of the seller and buyer. This off-market deal reflects the expertise of those involved, highlighting the strategic nature of the transaction.
Players
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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93