Jason Carter Acquires Multifamily Property In Lenox Hill For $51M
SOLD
$51,000,000
New York
See Similar DealsMultiFamily66,234 SF
Sold
SOLD
Jason Carter Acquires Multifamily Property In Lenox Hill For $51M
305 E 61st St, New York, NY 10065, USA
See Similar DealsMultiFamily66,234 SF
Sold
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$770
Total Square Footage:66234 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,719,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$181,192.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$241,766.02
Annual Debt Service$2,901,192.23
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