Updated Dec 21, 2023
Jeffrey Cheng Acquires Multifamily Property In Lenox Hill For $5.75M
824 Lexington Avenue, New York, NY, USA
$5,750,000
$752/SF
Building Size
7,637 SF
Asset Type
MultiFamily
Closing
Dec 6, 2020
About this deal
AI
The multifamily property located at 824 Lexington Avenue in Lenox Hill was recently sold on 12/07/2020. The property consists of 6 units with a total square footage of 7,637. The sale price for the property was $5,750,000, resulting in a price per unit of $966,666 and a price per square foot of $753.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,750,000
- Address: 824 Lexington Avenue
- Market: Lenox Hill
Jeffrey Cheng acquired the property from the seller, Pocker Family. The transaction was facilitated by broker Ben Weiss from Besen Partners.
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
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93