Beekman Estate Acquires Mixed-Use Property On UES For $7.95M
SOLD
$7,950,000
New York
See Similar DealsMixed-use5,765 SF
Sold 04/30/2019
SOLD
Beekman Estate Acquires Mixed-Use Property On UES For $7.95M
833 Lexington Avenue, New York, NY 10065, USA
See Similar DealsMixed-use5,765 SF
Sold 04/30/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,379
Total Square Footage:5,765 SF
Transaction Type:Sale
A mixed-use property located at 833 Lexington Ave in the UES neighborhood has been sold for $7.95 million. The property is spread across 5,765 square feet, with a price per square foot of $1,379.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7.95M
- Address: 833 Lexington Ave
- Market: UES
- Square Footage: 5,765
- Price per Square Foot: $1,379
The seller, SBP Lexington LLC represented by Yuri Gaspar, sold the property to the buyer, Beekman Estate represented by Lucius Palmer. Hunter Moss and Michael Gembecki from CushWake and buildinginvestmentsales served as the seller's representatives in the deal.
It is worth noting that the residential units of the property were delivered vacant.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$424,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,244.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,687.06
Annual Debt Service$452,244.67
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