ZD Jasper Realty Acquires Upper East Side Retail Property From Extell For $24.5M
179 East 86th Street
$24,500,000
Building Size
—
Asset Type
Retail
Closing
Nov 3, 2023
About this deal
AI
Extell, the developer behind Billionaires' Row, has sold the property located at 179 East 86th Street in the Upper East Side. The property, which housed Papaya King for nearly 90 years, has been purchased by ZD Jasper Realty for a total of $24.5 million.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $24,500,000
- Address: 179 East 86th Street
- Market: Upper East Side
Jasper Wu, representing ZD Jasper Realty, acted as the buyer in this transaction. Gary Barnett, representing Extell, served as the seller.
On the Map
$24,500,000
Retail
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New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93