Jason Carter Acquires Multifamily Property In Lenox Hill For $51M
305 E 61st St, New York, NY 10065, USA
$51,000,000
$770/SF
Building Size
66,234 SF
Asset Type
MultiFamily
Closing
Sep 15, 2020
AI
A multifamily property located at 305 East 61st Street in the Lenox Hill neighborhood has been sold for $51,000,000. The property spans 66,234 square feet and has a price per square foot of $769. The asset falls under the zoning designation of R8B, C2-5.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $51,000,000
- Address: 305 East 61st Street
- Market: Lenox Hill
- Zoning: R8B, C2-5
Jason Carter has purchased the property from Mitchell Marks. The transaction was facilitated by Greg Corbin from Rosewood Realty Group and Richard Maltz from Maltz Auctions.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93