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432 Park Ave, New York, NY ...

Jennifer Lopez And Alex Rodriguez Acquire 432 Park Avenue Apartment In Manhattan For $15.3M
SOLDOther

Jennifer Lopez And Alex Rodriguez Acquire 432 Park Avenue Apartment In Manhattan For $15.3M

432 Park Ave, New York, NY 10022, USA

Building Size

40,000 SF

Asset Type

Other

Closing

Mar 27, 2018

AI

Alex Rodriguez and Jennifer Lopez have purchased an apartment in Manhattan at 432 Park Avenue. The property, spanning 4,000 square feet, was sold for a price of $15,300,000, resulting in a price per square foot of $3,825.

Summary of transaction details

  • Property Type: Apartment
  • Transaction Amount: $15,300,000
  • Property Address: 432 Park Avenue, New York
  • Market: Manhattan
  • Square Footage: 4,000 sf
  • Price per Square Foot: $3,825

The sellers of the apartment were CIM Group, represented by Shaul Kuba, and Macklowe Properties, represented by Harry Macklowe. The buyers, on the other hand, were Jennifer Lopez and Alex Rodriguez. The transaction was facilitated by @DouglasElliman's Shari Scharfer-Rollins as the broker.

Players

Adam Modlin

Modlin Group

Broker

$1B

vol

30 deals

Broker
Alex Rodriguez

Alex Rodriguez

Buyer

$261M

vol

11 deals

Buyer

New York Other Market Snapshot

Boundary boundary · Other · Sale transactions

Loading comparables…

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