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1135 Lexington Ave, New Yor...

Updated Dec 21, 2023

HFZ Capital Group Acquires Commercial Building On Lexington Avenue In Manhattan For $22.5M
SOLDOther

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.

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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

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