Frank Carone Acquires Co-op At 45 Sutton Place South, Manhattan In $2.2M Deal
45 Sutton Place South, New York City, New York 10022, United States
$2,218,000
Building Size
—
Asset Type
Other
Closing
Dec 9, 2021
About this deal
AI
Located in Manhattan, at 45 Sutton Place South, a co-op property was recently sold for a price of $2,218,000. The transaction took place on December 10, 2021. The buyer of the property was Frank Carone, who serves as Eric Adams' Chief of Staff. The seller was Hassan Tabbah, and the deal was facilitated by Lawrence Rich from Corcoran.
Summary of transaction details:
- Property Type: Co-op
- Transaction Amount: $2,218,000
- Market: Manhattan
- Zoning: R10
- FAR: 16.76
- Tax Class: 2
- Lot Size: 30,463
- Permits: Alteration (02/01/2022)
- Lot Dimension: 200.83 ft x 225 ft
This transaction involved noteworthy individuals such as Frank Carone, Eric Adams' Chief of Staff, who acted as the buyer. Hassan Tabbah served as the seller in the deal. The brokerage services were provided by Lawrence Rich from Corcoran.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.15%
Cash-on-Cash
-2.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93