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53 East 77th Street

Edmond Safra Of EMS Capital Acquires Retail Property From Leon Dalva For $20M In Lenox Hill
SOLDRetail

Edmond Safra Of EMS Capital Acquires Retail Property From Leon Dalva For $20M In Lenox Hill

53 East 77th Street

$20,000,000

Building Size

Asset Type

Retail

Closing

Nov 8, 2024

AI

The property asset involved in this transaction is located at 53 East 77th Street in the Lenox Hill market. It is categorized as retail and was sold for $20,000,000. The building was previously owned by Dalva Bros., a company known for dealing in historic antiques and 18th-century French furniture.

Summary of transaction details:

This transaction was executed by Edmond Safra, who leads the hedge fund EMS Capital. The seller, Leon Dalva, represented Dalva Bros., which has a rich history in dealing antiques. Loy Carlos from Nest Seekers International acted as the broker facilitating the transaction.

Players

Loy Carlos

Nest Seekers International

Broker

$57M

vol

4 deals

Broker
The Corcoran Group
The Corcoran GroupBrokerage

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

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93