Updated Dec 21, 2023
Weston W Quasha Acquires SFR In Lenox Hill For $6.5M
229 E 62 St, New York City, New York 10065, United States
$6,500,000
$1,751/SF
Building Size
3,711 SF
Asset Type
Single Family Residence
Closing
Oct 24, 2021
About this deal
AI
A single-family residential property located at 229 East 62 Street in Lenox Hill has been sold for $6,500,000. The property has a total building square footage (BSF) of 4,484, translating to a price per BSF (PPBSF) of $1,449. The interior space spans 3,711 square feet, with a price per square foot (PPSF) of $1,751. The property is zoned as R8B, allowing for single-family residential development.
Summary of transaction details
- Property Type: Single-Family Residential (SFR)
- Transaction Amount: $6,500,000
- Market: Lenox Hill
- Address: 229 East 62 Street
- Buyer: Weston W Quasha
- Seller: Hugh J Lawson
- Broker: Mark David Fromm - Corcoran
- BSF: 4,484
- PPBSF: $1,449
- SF: 3,711
- PPSF: $1,751
- Zoning: R8B
The buyer, Weston W Quasha, successfully acquired the property from the seller, Hugh J Lawson. The transaction was facilitated by broker Mark David Fromm from Corcoran. The property's previous sale occurred on April 19, 2004, with a price of $3,600,000. It underwent alterations on November 8, 2010, with a permit for Alteration 3. The lot size measures 1,121 square feet, with dimensions of 17.83 feet by 62.83 feet. The property falls under tax class 1 and has a floor area ratio (FAR) of 3.31.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93