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309 Lexington Avenue, Manha...

Updated Dec 20, 2023

Carrie E Brown Acquires Apartment Building On Lexington Avenue For $32.75M
SOLDMultiFamily

Carrie E Brown Acquires Apartment Building On Lexington Avenue For $32.75M

309 Lexington Avenue, Manhattan, New York, NY, USA

$32,750,000

$665/SF

Building Size

49,212 SF

Asset Type

MultiFamily

Closing

Nov 21, 2021

About this deal

AI

Located in Murray Hill, Manhattan, the property at 309 Lexington Avenue recently changed hands in a sale transaction. The apartment building, with an R10 zoning, offers a total of 49,212 square feet of space. The sale took place on November 22, 2021, with a transaction price of $32,750,000. The buyer, Carrie E Brown, acquired the property from seller Jeffrey Elghanayan.

Summary of transaction details:

  • Property Type: Apartment
  • Transaction Amount: $32,750,000
  • Market: Murray Hill, Manhattan
  • Address: 309 Lexington Avenue
  • Zoning: R10

The property's building floor space (BSF) measures 49,410, resulting in a price per BSF (PPBSF) of $662. The total square footage (SF) of the property is 49,212, with a price per square foot (PPSF) of $666. The floor area ratio (FAR) is 9.96, and the tax class is 2.

The property sits on a lot with dimensions of 49.42 feet in width and 100 feet in length. The lot size is 4,941 square feet. An alteration permit was issued on October 18, 2018, allowing for modifications to the property.

  • Permits: Alteration 2 (10/18/2018)
  • Lot Dimension: 49.42 ft x 100 ft

Players

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $665 per square foot on a published $32.8M for 49,212 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.48%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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