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229 E 62 St, New York City,...

Weston W Quasha Acquires SFR In Lenox Hill For $6.5M
SOLDSingle Family Residence

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

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.

Players

Mark David Fromm

Douglas Elliman

Broker

$65.2M

vol

4 deals

Broker

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

2.44%

Cash-on-Cash

-0.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93