Updated May 12, 2025
Gary Barnett Of Extell Development Acquires Three Adjacent Buildings From Jane Goldman For $103.3M
35 East 60th Street, 37 East 60th Street & 39 East 60th Street
$103,300,000
Units
25
Asset Type
MultiFamily
Closing
Feb 26, 2025
About this deal
AI
The transaction involved the sale of three adjacent buildings located at 35 East 60th Street, 37 East 60th Street, and 39 East 60th Street in Lenox Hill, Manhattan. The sale price was $103,300,000, with a total of 28,314 square feet. The buildings included 25 units and provided a price per unit of $4,132,000. The buildings have a total base square footage of 127,650, equating to a price per base square foot of $809. Furthermore, the price per square foot was $3,648.
Summary of transaction details:
- Property Type: MultiFamily & Mixed-use
- Transaction Amount: $103,300,000
- Buyer: Gary Barnett - Extell Development
- Seller: Jane Goldman - Solil Management
- Units: 25
- Base Square Footage: 127,650
- Price Per Base Square Foot: $809
- Total Square Feet: 28,314
- Price Per Square Foot: $3,648
- Air Rights: 99,340 SF
Gary Barnett represented Extell Development, while Jane Goldman represented Solil Management in the transaction. The deal was signed on February 26, 2025, indicating a strategic position for Extell Development likely connected to its ongoing project at 655 Madison Avenue.
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93