Dermot Company Acquires 220 East 72nd Street Rental On Upper East Side For $160M
SOLD
$160,000,000
New York
See Similar DealsOther156,200 SF
Sold 07/11/2019
SOLD
Dermot Company Acquires 220 East 72nd Street Rental On Upper East Side For $160M
220 E 72nd St, New York, NY 10021, USA
See Similar DealsOther156,200 SF
Sold 07/11/2019
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$1,024
Total Square Footage:156,200 SF
Transaction Type:Sale
The property at 220 East 72nd Street in the Upper East Side has been sold in a closed transaction. The asset involved is a rental property consisting of 147 units. The transaction was completed for a price of $160,000,000, resulting in a per unit price of $1,088,435.
Summary of transaction details
- Property Type: Rental
- Transaction Amount: $160,000,000
- Units: 147
- Price per Unit: $1,088,435
The buyer in this transaction is the Dermot Company, while the seller is Spitzer Enterprises, represented by Eliot Spitzer. The broker involved in the deal is Helen Hwang from Meridian Capital Group.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,533,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$568,446.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$758,481.63
Annual Debt Service$9,101,779.54
Is there something missing? Send suggestions