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45 Sutton Place South, New ...

Updated Oct 28, 2024

Frank Carone Acquires Co-op At 45 Sutton Place South, Manhattan In $2.2M Deal
SOLDOther

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

Lawrence Rich

The Corcoran Group

Broker

$2.2M

vol

1 deal

Broker

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

7.15%

Cash-on-Cash

-2.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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