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
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
3.09%
Cash-on-Cash
-0.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93