FAW Trust Acquires Co-op In Carnegie Hill For $35M
1107 5th Ave, 1107 5th Ave, New York City, New York 10128, United States
$35,000,000
$256/SF
Building Size
136,240 SF
Asset Type
Other
Closing
Jan 18, 2022
About this deal
AI
The co-op property located at 1107 Fifth Avenue in Carnegie Hill has been sold. The transaction took place on January 19, 2022, with a sale price of $35,000,000. The property spans across 136,240 square feet, resulting in a price per square foot of $256. The lot size measures 12,096 square feet, with dimensions of 100.67 feet by 120 feet. The property is classified as a tax class 2 and has a floor area ratio (FAR) of 11.26. The permits for an alteration were obtained on November 15, 2021.
Summary of transaction details:
- Property Type: Co-op
- Transaction Amount: $35,000,000
- Market: Carnegie Hill
- Zoning: R10, PI
- SF: 136,240
- PPSF: $256
- Lot Size: 12,096
- Tax Class: 2
- Permits: Alteration (11/15/2021)
- Lot Dimension: 100.67 ft x 120 ft
FAW Trust has purchased the property from Richard Eisner of EisnerAmper and Carole Eisner. Richard Eisner represented himself and Carole Eisner in the deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93