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330 East 63rd Street, Manha...

Updated Dec 20, 2023

Herbert Chaves Acquires Multifamily Property On 330 East 63rd Street In Lenox Hill, Manhattan For $10.98M
SOLDMultiFamily

Herbert Chaves Acquires Multifamily Property On 330 East 63rd Street In Lenox Hill, Manhattan For $10.98M

330 East 63rd Street, Manhattan, New York, NY, USA

$10,976,184

$154/SF

Building Size

70,992 SF

Asset Type

MultiFamily

Closing

Nov 8, 2021

About this deal

AI

The multifamily property located at 330 East 63rd Street in Lenox Hill, Manhattan has been sold in a recent transaction. The property is zoned as R8B and C2-5, making it suitable for both residential and commercial purposes. The transaction took place on November 9, 2021, with Herbert Chaves purchasing the property from Eric Nelson.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $10,976,184
  • Address: 330 East 63rd Street
  • Market: Lenox Hill, Manhattan
  • Zoning: R8B, C2-5

The property spans a total gross square footage (BSF) of 70,296, with a price per BSF (PPBSF) of $156. The total square footage (SF) of the property is 70,992, with a price per square foot (PPSF) of $155. The property's floor area ratio (FAR) is calculated at 4.04, and it falls under tax class 2.

The lot size of the property is 17,574, with the previous sale price recorded at $58,000,000 on February 10, 2015. The lot dimensions measure 175 ft x 100.42 ft.

On the Map

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$10,976,184

$154/SF

MultiFamily

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Players

Eric Nelson

Vintage Group

Broker

$17.4M

vol

5 deals

Broker
Eric Nelson

Eric Nelson

Seller

$17.4M

vol

5 deals

Seller
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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $154 per square foot on a published $11M for 70,992 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.45%

Cash-on-Cash

-0.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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