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1485 1st Avenue, New York, ...

Abraham Stawski Acquires Lenox Hill Apartment For $10M
SOLDMultiFamily

Abraham Stawski Acquires Lenox Hill Apartment For $10M

1485 1st Avenue, New York, NY 10075, USA

Building Size

16,100 SF

Asset Type

MultiFamily

Closing

Jan 17, 2018

AI

An apartment located at 413 East 78th Street in Lenox Hill, Manhattan has been sold in a transaction. The property, situated on a lot measuring 2,554 square feet, is zoned as R8B. The previous sale of the property took place on September 11, 2015, with a sale price of $5,750,000. An alteration permit was issued on March 21, 2017.

Summary of transaction details

  • Property Type: Apartment
  • Transaction Amount: $10,000,000
  • Market: Lenox Hill, Manhattan
  • Buyer: Abraham Stawski
  • Seller: Sean J. Lavin
  • Building Square Footage: 10,216
  • Price per Building Square Foot: $978
  • Lot Square Footage: 10,625
  • Price per Square Foot: $941
  • Floor Area Ratio (FAR): 4.16
  • Tax Class: 2
  • Last Sale Price: $5,750,000 (09/11/2015)
  • Permits: Alteration 2 (03/21/2017)
  • Lot Dimension: 25 ft x 102.17 ft

Abraham Stawski has purchased the property from Sean J. Lavin. The transaction price was $10,000,000. The property has a building square footage of 10,216, with a price per building square foot of $978. The lot size is 10,625 square feet, resulting in a price per square foot of $941. The floor area ratio (FAR) is 4.16, and the property is classified under tax class 2. The deal was closed on June 30, 2022.

Players

Abraham Stawski

Buyer

$32.5M

vol

3 deals

Buyer

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93