RFR Realty Acquires Co-op On Fifth Avenue From Robert Mnuchin For $18M
SOLD
$18,000,000
New York
See Similar DealsOther
Sold 12/30/2022
SOLD
RFR Realty Acquires Co-op On Fifth Avenue From Robert Mnuchin For $18M
944 5th Avenue, New York City, New York 10011, United States
See Similar DealsOther
Sold 12/30/2022
Summary
NEW YORK
Asset Type:Other
Transaction Type:Sale
A co-op located at 944 Fifth Avenue in Lenox Hill has been sold for $18,000,000. The transaction took place on December 30, 2022. The property was sold by Robert Mnuchin to RFR Realty, represented by Michael Fuchs. The deal was facilitated by Caroline Guthrie from Sotheby’s International Realty.
Summary of transaction details
- Property Type: Co-op
- Transaction Amount: $18,000,000
- Address: 944 Fifth Avenue
- Market: Lenox Hill
The sale of the co-op at 944 Fifth Avenue was completed on December 30, 2022. Michael Fuchs, representing RFR Realty, purchased the property from Robert Mnuchin. The transaction was brokered by Caroline Guthrie from Sotheby’s International Realty. The property, located in Lenox Hill, was sold for a total of $18,000,000.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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