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326 East 74th Street, New Y...

David R. Mashaal Acquires Old Law Tenement In Lenox Hill, Manhattan For $5.1M
SOLDMultiFamily

David R. Mashaal Acquires Old Law Tenement In Lenox Hill, Manhattan For $5.1M

326 East 74th Street, New York City, New York 10021, United States

$5,133,956

$930/SF

Building Size

5,517 SF

Asset Type

MultiFamily

Closing

Jul 6, 2022

AI

An Old Law Tenement located at 326 East 74th Street in Lenox Hill, Manhattan has been sold in a transaction that closed on July 7, 2022. The property, with a lot size of 2,554 square feet, is zoned as R8B and has a floor area ratio (FAR) of 2.16. Previously, the property had undergone an alteration permit in May 17, 2019.

Summary of transaction details

  • Property Type: Old Law Tenement
  • Transaction Amount: $5,133,956
  • Market: Lenox Hill, Manhattan
  • Buyer: David R. Mashaal
  • Seller: Martin Hollander
  • Building Square Feet (BSF): 10,216
  • Price per Building Square Foot (PPBSF): $502
  • Total Square Feet (SF): 5,517
  • Price per Square Foot (PPSF): $930
  • Tax Class: 2
  • Lot Size: 2,554 square feet
  • Lot Dimension: 25 ft x 102.17 ft

The buyer of the property, David R. Mashaal, acquired the Old Law Tenement from the seller, Martin Hollander. This transaction involved an amount of $5,133,956 and a building with a total square footage of 5,517. The purchase price per square foot was $930, while the price per building square foot was $502. The property is classified under tax class 2 and has a lot dimension of 25 ft x 102.17 ft.

Players

David R. Mashaal

Buyer

$22.7M

vol

4 deals

Buyer

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.09%

Cash-on-Cash

-0.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93