Property In Upper East Side Residential Property Sold For $24M
807 Park Ave, New York, NY 10021, USA
$24,000,000
$109/SF
Building Size
219,990 SF
Asset Type
Other
Closing
Dec 1, 2019
About this deal
AI
The property asset involved in the transaction is located at 807 Park Avenue in the Upper East Side market. AION Partners sold the residential building for $24,000,000, which encompasses a total area of 21,999 square feet, resulting in a price per square foot of $1,099.
Summary of transaction details:
- Property Type: Residential
- Transaction Amount: $24,000,000
- Seller: AION Partners
- Square Footage: 21,999
- Price Per Square Foot: $1,099
- Date of Transaction: 12/02/2019
@Diddy, who originally purchased the building in 1998 for $12,000,000, sold it to AION Partners for $14,300,000 in 2003, marking a notable history of ownership prior to this most recent sale.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93