Jay Hennick's Hennick & Company Acquires Retail Condo On Upper East Side For $153M
410 East 60th Street
$153,000,000
Building Size
—
Asset Type
Retail
Closing
Jan 12, 2024
AI
The retail condominium at 410 East 60th Street in the Upper East Side has been sold for $153 million. The buyer, Jay Hennick's family office Hennick & Company, acquired the property from Gazit Horizons.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $153,000,000
- Date: 01/12/2024
- Address: 410 East 60th Street
- Market: Upper East Side
Hennick & Company, the family office of Colliers International CEO Jay Hennick, represented the buyer in this transaction. The seller of the retail condominium was Gazit Horizons.
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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93