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Jeffry Shemia Acquires Multifamily Building In Lenox Hill, Manhattan For $10.3M

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SOLD
$10,300,000
PS
PS

New York

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MultiFamily4,940 SF
Sold 04/18/2023
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Property Image
SOLD

Jeffry Shemia Acquires Multifamily Building In Lenox Hill, Manhattan For $10.3M

54 East 66th Street

See Similar Deals
MultiFamily4,940 SF
Sold 04/18/2023
PS
PS
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$2,085
Total Square Footage:4,940 SF
Transaction Type:Sale

Jeffry Shemia has purchased a three-unit 1-4 family building located at 54 East 66th Street in Lenox Hill, Manhattan, for a total of $10.3 million. The property spans 4,940 square feet with an additional 3,090 square feet of air rights, bringing the total buildable area to 8,028 square feet.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $10,300,000
  • Address: 54 East 66th Street
  • Market: Lenox Hill, Manhattan
  • Buyer: Jeffry Shemia
  • Seller: Peter Smith & Patricia Smith
  • Building Square Footage: 4,940
  • Price per Square Foot: $2,085

In this deal, Jeffry Shemia acquired the property from Peter Smith & Patricia Smith. The transaction represents a significant investment in the Lenox Hill area of Manhattan.

Players

PS
Peter Smith
2 deals$10.3M volume
SELLER
PS
Patricia A. Smith
2 deals$11.7M volume
SELLER

Details

SOLD
IMAGE: 04/18/2023 ADDRESS: 54 East 66th Street MARKET: Lenox Hill, Manhattan ASSET TYPE: Multifamily BUYER: Jeffry Shemia SELLER: Peter Smith & Patricia Smith SALE PRICE: $10,300,000 BSF: 8,028 ~ PPBSF: $1,283 SF: 4,940 ~ PPSF: $2,085 NOTE: Jeffry Shemia has bought a three-unit 1-4 family building at 54 East 66th Street in Lenox Hill, Manhattan, for $10.3 million from Peter and Patricia Smith. The property has 4,940 square feet of built space and 3,090 square feet of additional air rights for a total buildable of 8,028 square feet.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$549,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$36,593.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,827.25
Annual Debt Service$585,927.06