Updated Dec 4, 2024
Vanessa Frazier Acquires SFR In Turtle Bay, Manhattan For $8.4M
244 East 48th Street, Manhattan, New York, NY, USA
$8,400,000
$1,302/SF
Building Size
6,447 SF
Asset Type
Single Family Residence
Closing
May 3, 2021
About this deal
AI
A single-family residential property located at 244 East 48th Street in the Turtle Bay neighborhood of Manhattan has been sold. The property is zoned as R8B and spans a total of 6,447 square feet. The sale took place on May 4, 2021, with Vanessa Frazier as the buyer and Eric Berliner as the seller. The transaction was completed for a price of $8,400,000. The property's buildable square footage is 7,496, resulting in a price per buildable square foot of $1,121. The lot size is 1,873 square feet with dimensions of 18.67 feet by 100.42 feet. The property was last sold on January 27, 2014, for $4,235,000, and it underwent an alteration permit on May 11, 2015.
Summary of transaction details
- Property Type: Single-Family Residential (SFR)
- Transaction Amount: $8,400,000
- Market: Turtle Bay, Manhattan
- Zoning: R8B
- Buyer: Vanessa Frazier
- Seller: Eric Berliner
- Buildable Square Footage: 7,496
- Price per Buildable Square Foot: $1,121
- Square Footage: 6,447
- Price per Square Foot: $1,304
- FAR: 3.44
- Tax Class: 1
- Lot Size: 1,873 square feet
- Last Sale Price: $4,235,000 (1/27/2014)
- Permits: Alteration type 1 (05/11/2015)
- Lot Dimensions: 18.67 ft x 100.42 ft
This transaction represents a significant sale in the Turtle Bay neighborhood of Manhattan. Vanessa Frazier successfully acquired the single-family residential property from Eric Berliner for a total price of $8,400,000. The property offers a buildable square footage of 7,496 and a lot size of 1,873 square feet. The transaction took place on May 4, 2021, and included an alteration permit that was obtained on May 11, 2015.
Players
New York Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $1.3K per square foot on a published $8.4M for 6,447 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.89%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93