Dermot Company Acquires 220 East 72nd Street Rental On Upper East Side For $160M
220 E 72nd St, New York, NY 10021, USA
$160,000,000
$1,024/SF
Building Size
156,200 SF
Asset Type
Other
Closing
Jul 10, 2019
AI
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
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93