Maddd Equities Acquires Lenox Hill Retail Property For $42 Million
Lenox Hill, New York, NY, USA
$42,000,000
$428/SF
Building Size
98,000 SF
Asset Type
Retail
Closing
May 11, 2020
About this deal
AI
The retail property located at 405 E. 59th St. in Lenox Hill was recently sold for a significant sum of $42,000,000. Spanning 98,000 square feet, the property boasts an impressive price per square foot of $428. The transaction involved a purchase by Maddd Equities, represented by Jorge Madruga and Eli Weiss, from Gordon Group Holdings, represented by Christine Gordon.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $42,000,000
- Square Footage: 98,000
- Price Per Square Foot: $428
- Buyer: Maddd Equities - Jorge Madruga & Eli Weiss
- Seller: Gordon Group Holdings - Christine Gordon
This high-value transaction was facilitated by Maddd Equities' representatives, Jorge Madruga and Eli Weiss. On the other side of the deal, Christine Gordon acted as the representative for Gordon Group Holdings. The sale of the retail property at 405 E. 59th St. showcases the successful partnership between buyers and sellers in the real estate market.
On the Map
$42,000,000
$428/SF
Retail
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Players
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93