Updated Mar 17, 2025
Joe Moinian's Moinian Group Acquires Garage In Manhattan For $25M
177 East 73rd Street, New York, NY 10021, USA
$25,000,000
$1,450/SF
Building Size
17,232 SF
Asset Type
Single Family Residence
Closing
Nov 15, 2017
About this deal
AI
The property asset involved in this transaction is a garage located at 177 East 73rd Street in New York City. The asset is set to be converted into a single-family residence. The property spans an impressive 17,232 square feet, offering ample space for the future residence. The transaction price for this property was $25,000,000, with a price per square foot of $1,450.
Summary of transaction details
- Property Type: Garage - to be converted to single family
- Transaction Amount: $25,000,000
- Address: 177 East 73rd Street
- City: New York
- Market: Manhattan
The seller of this property was the Connelly Family Trust, who successfully closed the deal with the buyer, Joe Moinian's Moinian Group. The brokerage representation for this transaction was provided by Paula Del Nunzio, who represents Brown Harris Stevens.
Players
New York Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93