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985 5th Avenue, New York Ci...

Eliot Spitzer Acquires Apartment In Carnegie Hill, Manhattan For $10.6M
SOLDMultiFamily

Eliot Spitzer Acquires Apartment In Carnegie Hill, Manhattan For $10.6M

985 5th Avenue, New York City, New York 10075, United States

$10,597,190

$103/SF

Building Size

102,075 SF

Asset Type

MultiFamily

Closing

May 19, 2022

AI

The property involved in this transaction is an apartment located at 985 5th Ave in the Carnegie Hill neighborhood of Manhattan. The property has a total square footage of 102,075 and a price of $10,597,190. The building's floor area ratio (FAR) is 9.83, and the zoning classification is R10, PI. The property's tax class is 2. The lot size is 10,384 square feet, with dimensions of 76.5 feet by 115 feet. The property underwent an alteration permit on May 15, 2018.

Summary of transaction details

  • Property Type: Apartment
  • Transaction Amount: $10,597,190
  • Market: Carnegie Hill, Manhattan
  • Buyer: Eliot Spitzer
  • Price per Square Foot: $103
  • Building Square Footage: 102,075
  • Floor Area Ratio (FAR): 9.83
  • Tax Class: 2
  • Lot Size: 10,384 square feet
  • Permits: Alteration 2 (05/15/2018)
  • Lot Dimension: 76.5 ft x 115 ft

Eliot Spitzer was the buyer in this transaction.

Players

Eliot Spitzer

Spitzer Enterprises

Buyer

$2B

vol

8 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

1.50%

Cash-on-Cash

-0.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93