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Avison Young Represents Sale Of Mixed-Use Properties On Upper East Side For $61M
SOLDMixed-use

Avison Young Represents Sale Of Mixed-Use Properties On Upper East Side For $61M

Upper East Side, Manhattan, New York, NY, USA

$61,000,000

$406/SF

Building Size

150,231 SF

Asset Type

Mixed-use

Closing

Aug 31, 2021

AI

The recent sale on the Upper East Side involved a mixed-use package deal. The properties that were sold include 418, 422, and 423 East 77th Street, 305, 327, 425, 441, and 442 East 75th Street, 1409 and 1411 York Avenue, 439 East 74th Street, and 309 East 91st Street. The total square footage of the properties is 150,231, and the sale price amounted to $61,000,000. The price per square foot was $405.

Summary of transaction details

Avison Young facilitated the sale of 100% of the shares in four different C corporations as part of this transaction. The involvement of James Nelson, David Shalom, Brandon Polakoff, Eric Karmitz, and Bradley Rothschild from Avison Young was instrumental in the successful completion of the deal.

Players

David Shalom

Avison Young

Broker

$552.8M

vol

38 deals

Broker

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

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93