Marc Preston Acquires Retail Property In Turtle Bay, Manhattan For $3.25M
217 East 49th Street, Manhattan, New York, NY, USA
$3,250,000
$774/SF
Building Size
4,199 SF
Asset Type
Retail
Closing
May 25, 2021
About this deal
AI
Located at 217 East 49 Street in Turtle Bay, Manhattan, this retail property was recently sold in a closed transaction. The property spans 4,199 square feet and has a price per square foot of $774. The sale price amounted to $3,250,000, with a lot size of 1,443 square feet. The property is zoned as R8B and has a floor area ratio (FAR) of 2.91. The tax class for this property is 4.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $3,250,000
- Square Footage: 4,199
- Price per Square Foot: $774
- Lot Size: 1,443 sq ft
- Zoning: R8B
- Tax Class: 4
The buyer in this transaction was Marc Preston, while the seller was Juliana Fehlhaber. The property, with lot dimensions of 19.5 ft x 74 ft, underwent an alteration permit of type 2 on April 18, 2007.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Browse New York retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.88%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93