HFZ Capital Group Acquires Commercial Building On Lexington Avenue In Manhattan For $22.5M
1135 Lexington Ave, New York, NY 10075, USA
Building Size
122,400 SF
Asset Type
Other
Closing
Feb 12, 2018
About this deal
AI
The commercial building located at 1135 Lexington Avenue in New York City has been sold for a price of $22,500,000. The building has a total square footage of 12,240, resulting in a price per square foot of $1,838. The property, situated in the Manhattan market, was sold in a closed transaction.
Summary of transaction details:
- Property Type: Commercial Building
- Transaction Amount: $22,500,000
- Seller: Mary McCullough and John Bono
- Buyer: HFZ Capital Group – Nir Meir, John Shannon, and Ziel Feldman
- Address: 1135 Lexington Avenue, New York
- Market: Manhattan
- Total Square Footage: 12,240
- Price per Square Foot: $1,838
HFZ Capital Group, represented by Nir Meir, John Shannon, and Ziel Feldman, has acquired the property from sellers Mary McCullough and John Bono. The acquisition was a significant transaction in the New York City commercial real estate market.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93