Reggie Kronstadt Acquires Development Site In Midtown East For $4.8M
310 East 50th Street, New York City, New York 10022, United States
$4,800,000
$1,946/SF
Building Size
2,466 SF
Asset Type
Single Family Residence
Closing
Jan 23, 2022
AI
The development site located at 310 East 50th Street in Midtown East has been sold for $4,800,000. The property spans 10,444 square feet and has a price per buildable square foot (PPBSF) of $549. The sale was completed on January 24, 2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,800,000
- Address: 310 East 50th Street
- Market: Midtown East
- Buildable Square Footage (BSF): 10,444
- Price per Buildable Square Foot (PPBSF): $549
The seller of the development site was the Meyerhoff Family. The buyer, Reggie Kronstadt, represented Krown Point. The transaction was facilitated by Will Conrad from Cushman & Wakefield.
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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93