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
- Property Type: Mixed-use (Package Deal)
- Transaction Amount: $61,000,000
- Square Footage: 150,231
- Price per Square Foot: $405
- Market: Upper East Side
- Seller's Representative: James Nelson, David Shalom, Brandon Polakoff, Eric Karmitz, & Bradley Rothschild - Avison Young
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
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