Updated Dec 21, 2023
Jeffrey And Dana Gossett Acquire SFR On Upper East Side For $7.85M
505 East 84th Street, Manhattan, New York, NY, USA
$7,850,000
$2,755/SF
Building Size
2,849 SF
Asset Type
MultiFamily
Closing
Apr 29, 2020
About this deal
AI
Located in the desirable Upper East Side market, the single-family home at 505 East 84th Street has recently changed hands in a closed transaction. The property spans approximately 5,100 square feet, offering plenty of space for its new owners, Jeffrey Gossett and Dana Gossett. The deal was facilitated by buyer's representative Irina Sher from Douglas Elliman. On the selling side, Joseph Castellano enlisted the services of Ryan Serhant from Serhant to represent him. Legal counsel was provided by Steven Parilis from Parilis & Associates.
Summary of transation details
- Property Type: Single-Family Residential (SFR)
- Transaction Amount: $7,850,000
- Address: 505 East 84th Street
- Market: Upper East Side
The property was listed with an asking price of $7,999,999 and was ultimately sold for a slightly lower amount of $7,850,000. This translates to a price per square foot of $1,539. It is worth noting that the property had previously been sold in January 2018 for $3,950,000, indicating a significant increase in value over the years.
This successful transaction highlights the expertise and negotiation skills of the individuals and agencies involved. Irina Sher from Douglas Elliman and Ryan Serhant from Serhant played instrumental roles in representing their respective clients. Steven Parilis from Parilis & Associates provided legal counsel, ensuring a smooth and legal transfer of the property.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $2.8K per square foot on a published $7.9M for 2,849 square feet (2020).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.02%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93