Updated Mar 11, 2025
Fortress Investment Group Secures $39.7 Million Acquisition Loan For Lenox Hill Multifamily
231-233 East 76th Street, New York City, New York 10021, United States
$39,700,000
$483/SF
Building Size
82,065 SF
Asset Type
MultiFamily
Closing
Jun 30, 2022
About this deal
AI
231-233 East 76th Street, located in the Lenox Hill neighborhood, was recently involved in a closed transaction. This multifamily property spans across 82,065 square feet and consists of 90 units. The transaction, which took place on July 1, 2022, involved the acquisition of the property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $39,700,000
- Address: 231-233 East 76th Street
- Market: Lenox Hill
- Square Footage: 82,065
- Units: 90
The lender for this transaction was MetLife, while the landlord was Fortress Investment Group. Peter L. Briger, Jr. and Wesley R. Edens were the key individuals involved in the deal.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93